Jackson Estate Earns $100 mn since Death
It is well known that the pop king Michael Jackson left with huge sums as debts to be repaid at the time of his sudden death. The debts are now being repaid out of the earnings obtained from his estate.
The estate earned a sum of $ 100 Millions till his death by way of contracts and advertising. It is hoped that it will earn another $ 100 millions by end of this year. Out of this amount a maximum share goes to the repayment of his loans. So far his total debts are not yet finalised as they are still to be estimated. Jackson’s lawyer is hope full of earnings of 50 -100 million dollars per year. Out of this earnings 40% will go to his mother and three children, 20% will go Charities.
It is also announced that his famous glittering hand glove which he was wearing on his left hand will go to bids on November 21 at New York’s Hard rock café. It appears he presented the glove to Walter Clyde Orange when he asked for an autograph of the pop king. He is now preparing to sell it. The other items from the music greats are Elvis Presley, Kent Kobain, Jimi Hendrix, and the Beatles.