Michael Jackson’s Mother, Kids Getting $30 Million from His Estate
Michael Jackson‘s mother and three children will receive a hefty sum of money, thanks to income generated by the late singer’s estate.
The estate has earned more than $310 million since Jackson’s death on June 25, 2009. He was heavily in debt when he died, but that income helped pay off some of it, and the estate was able to give Jackson’s mother, Katherine, and the children $30 million. Some of that will also go to various charities.
Katherine Jackson is planning to put the famous Jackson compound in Encino, California up for sale. Last year, the property was appraised at $4.15 million, but it’s been extensively renovated since then. Katherine Jackson and the children have been living in a leased home in Calabasas, California that is for sale for $10 million. Mrs. Jackson wants the executors of her son’s estate to negotiate the purchase of a new home for herself and Michael’s children, Paris, Prince and Blanket.
A judge is scheduled to hold a hearing to approve the $30 millon payment on September 28.