According to reports, Michael's estate has paid off all the debts that plunged his life into turmoil. And they managed to do so barely five months after his death.
How'd they manage this? Well Michael’s made a FORTUNE since he passed away. Here’s how the UK’s Daily Express is reporting it:
Music royalties and box-office takings for the film This Is It have brought in almost half-a-billion dollars to the King of Pop’s estate.
The phenomenal flow of cash, which does not include income from Jackson souvenirs and memorabilia, more than covers the estimated $500 million he owed.
We know what you're thinking. Michael is being sued by everyone and their mama - so his estate might soon be back into debt. Well, according to the report, the money he's making now FAR EXCEEDS the amount he's being sued for. Check this out:
Jackson was already No3 on Forbes Magazine’s annual list of highest-grossing dead celebrities, behind fashion icon Yves St Laurent and composers Rodgers & Hammerstein, before This Is It was released last month. By yesterday, the film had raked in almost $240million worldwide, according to online monitor Box Office Mojo, with eventual income from DVD sales expected to double that. Sales of the spin-off double CD, which has made the top 10 in more than 120 countries, as well as re-releases of Jackson's classic albums, are "conservatively" expected to top $360 million by Christmas, according to Sony Music.
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