Michael Jackson's net worth is valued at a hefty amount of $600 million. Six years after his death, the King of Pop's estate has incredibly blown up to a massive amount of almost $2 billion. How did it happen?
TMZ first reported the enormous increase in the estate, citing that it went from bankruptcy to substantially gaining manifolds of earnings that it even reached to almost $2 billion. The site reported that after the "Thriller" singer's death, the incredible boost in his net worth estate can be credited from his 50 million albums sold from his "Michael Jackson: The Immortal World Tour," "This is It" film, and other business dealings. His estate is also reportedly gaining profits from Sony.
Six years have passed after MJ died from Propofol overdose and other sedatives. During the time, Michael Jackson's net worth was reported at nearly $500 million with his record-breaking music, endorsements, concerts and videos. However, with his lavish lifestyle, his debts also climbed up to a significant amount of $500 million, Celebrity Net Worth reports.
Reports claimed that MJ's unpaid bills soon started to pile up. He spent $12 million on a divorce settlement with Debbie Rowe, splurged on buying arts, antiques, clothes, chimpanzees, diamond-embedded gloves and Bentleys. He also spent $5 million for yearly interest payments on his debts and $20 million to resolve lawsuits he faced at that time.
However, at the time of his sudden death, Daily Mail reports that his popularity improved after people started downloading and buying his albums "Bad," "Thriller," and "Off the Wall."
Michael Jackson's net worth or estate is now valued at $2 billion, which sums up to $450 million after all bills and taxes have been applied. Moreover, Jackson's three children, Prince, 18; Paris, 17; and Blanket, 13, will reportedly receive $100 million in case the estate is liquidated.
"Michael's number one priority was his children, not wealth or fame," said Tom Mesereau, the lawyer who successfully defended Jackson against child molestation charges in the past. MJ wanted the best education for his children, he added, according to Huffington Post.
