Michael Jackson’s $200 Million Year
Well, here’s another ghoulish Michael Jackson story. The Times reports today that in the 48 days since the King of Pop’s death, his estate has made $100 million — with another $100 million likely before the end of 2009 — which will almost certainly set an unbeatable record for single-year earnings for an expired celebrity. Where’s it all coming from? Album sales account for a small fraction, but it’s mostly from the recent judge-approved deal for his upcoming 3-D movie and the tasteful sale of his likeness for use on commemorative coins and school supplies. Even before one considers the annual $50 million to $100 million his stake in the Sony/ATV catalogue will generate, a proposed MJ-memorabilia museum in Las Vegas, or the hypothetical eventual sale of his entire estate (easily worth hundreds of millions), his family should have no trouble covering his debts, and can soon begin the expected battle over their fair share of his assets (and their possible concert tour!). But the L.A. Times says a new Jackson song will be released this fall with his movie, so at least people creeped out by the legal wrangling, school supplies, and commemorative coins will have that to look forward to.
