Michael Jackson's estate has raked in close to a billion dollars in the year since he died.
The huge sum - from record sales and lucrative deals brokered by the estate - is 47 TIMES what the debt-ridden King Of Pop made the previous year.
That's nearly two thirds of what Elvis Presley's estate has made in the 33 YEARS since his death. If the cash keeps rolling in, Jackson's children, Prince Michael, 12, Paris, 11 and Blanket, seven, will get billions from their trust funds when they reach 21.
A source said: "The estate has made around $900million (£614m) in cash since Michael's death. This is an incredible amount. No other artist has ever made that much since they died. It should ensure Michael goes down in history as the greatest artist of all time."
Record sales soared as soon as news of Jackon's death was announced on June 25 last year.
More than 415,000 albums were sold in the first four days in America alone - and 2.3million songs were downloaded across the world.
In the previous year Jackson, who was struggling to pay off $500million of debts and was selling off his beloved Neverland Ranch, had sold just 10,000 records, got cash from 37,000 downloads - and made an estimated $19million.
His estate, run by two US lawyers, has since signed the most lucrative recording contract ever - a $250million deal with Sony for continuing rights to his music and further unreleased songs.
A $200million contract with Cirque du Soleil to create a Michael Jackson show in Las Vegas is also said to be in the pipeline. Jackson merchandise, profits from The Beatles songwriting catalogue which he bought in 1985, and the This Is It film released after his death helped raise the $900m.
The estate has won a court order so details about the money can be kept from the public.
But a lawyer for Jackson's father Joe, who wants a share of the cash, said: "They are being too secretive. The public has a right to know what the estate is doing in his name."
by Graeme Culliford
source:
http://www.mirror.co.uk/celebs/news/2010/06/06/wad-jackson-s-earned-1bn-since-he-died-a-year-ago-115875-22313471/Only one word: WOW.......
