Michael Jackson Estate: $1 Billion Court Fight
How much was the King of Pop‘s name and image worth when he died? The estate says $2,105, but the IRS insists its value is more than $434 million. “It seems preposterous that the IRS would arrive at a value 10 times [what Jackson earned licensing his name while he was alive],” says the estate’s lead attorney, Howard Weitzman. “This is bizarre.” I’m not generally in the habit of defending the IRS, but the value that the estate’s lawyers are putting on the estate — which could next year rise to nearly $1 billion — is ridiculous.
