Friday, December 15th, 2017

Michael Jackson’s estate pays $30 million to kids, mother

Thursday, September 15th, 2011 at 7:49 am , filed under News by

Print Print Email this! E-mail   share Comments 0 Comments Views 1290 Views

  Digg Button   

The King of Pop, Michael Jackson died deeply in debt. He has enabled the executors to distribute a preliminary payment of $30 million to his kids and mother that will be generated from his estate. Michael Jackson’s estate has paid $30 million to kids and mother which has generated more that $310 million in two years, since Jackson’s demise.

As per the recently filed court documents, the executors also disclosed that Katherine, mother of Jackson is putting the family’s fabled compound in the Encino area of Los Angeles up for sale and wants the executors to negotiate the purchase of new residence for her and the children Prince, Paris and Blanket. Jackson grew up in the Encino property where several of his siblings lived in a cottage near their parents’ home was appraised at $4.15 million in 2010.

Katherine Jackson and the children moved out and have been living at a leased home which is for sale for about $10 million. However, the executives told that Katherine has identified a number of homes in that price range which suits her needs and that of Jackson’s children. In addition, the executors John Branca and John McClain have filed a detailed accounting of finances since Jackson’s death on June 25th, 2009. At the end of the year, the Michael Jackson’s estate had produced more than $310 million in gross revenues. The executors also said that since the date, the estate assets have continued to generate additional income.

Tags: , , ,


You may also like

Justin Bieber 'All I Want for Christmas Is You' Snippet Released
Breaking Dawn soundtrack 'A Thousand Years' gets video premiere
Diego Luna to Star in 'Elysium'
Black Eyed Peas apologies for Central Park concert cancellation

Readers Comments (0)

Comments are closed.

LATEST HEADLINES

Celebrities

katy-perry

Katy Perry Is To Play A Role In Vin Diesel’s Movie

Katy Perry is about to play a  role ...
niall-selena-1

Are The Two Stars Dating?

The 21-year-old "Come and Get It" singer who ...
Miley

Miley Cyrus On The Cover Of W Magazine’s March 2014 Issue.

The 21-year-old former Disney star,  Miley Cyrus has ...

Subscribe

email button  rss button contact editorstwitter button  facebook button

Celebrities

katy-perry

Katy Perry Is To Play A Role In Vin Diesel’s Movie

Katy Perry is about to play a  role ...
niall-selena-1

Are The Two Stars Dating?

The 21-year-old "Come and Get It" singer who ...
Miley

Miley Cyrus On The Cover Of W Magazine’s March 2014 Issue.

The 21-year-old former Disney star,  Miley Cyrus has ...
Khloe-Kardashian-Lamar-Odom Snapped Together

Snapped: Khloé Kardashian Odom and Lamar Odom Together

The married couple was photographed together for the ...

Awards

daft-punk-to-perform-with-stevie-wonder-at-the-2014-grammys-0

2014 Grammy Awards – Winners List

From the headbangers who scored the trophy for Best Metal Performance to the jabber jaw who talked his ...
Film-Independent-Spirit-Awards-Logo.jpg.300x267_q100

2014 Spirit Awards Nominees

The year’s best independent film making have announced the nominees for the 2014 Spirit Awards. This year “12 Years ...