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The legendary King of Pop Michael Jackson has just past away June 25,2009 at age 50 of coarse the King of pop has an estate: with Speculations and rumors of the King of pop going broke many question what was the king of pop is acutely worth.
Court documents estimated the current value of his estate at more than $500 million.
One of Jackson’s most lucrative assets is his stake in the massive Sony-ATV Music Publishing Catalog, which includes music by the Beatles, Bob Dylan, Neil Diamond, Lady Gaga and the Jonas Brothers, and is estimated to be worth as much as $2 billion dollars The five-page will is signed by Jackson, and each paragraph includes Jackson’s scrawling initials.
It names his mother, Katherine Jackson, 79, as a beneficiary of the trust and the guardian of Jackson’s children, who are also named as beneficiaries of the trust.
It also names entertainer Diana Ross as a successor guardian for the children and their estates if something happens to Katherine Jackson.
Ross introduced the Jackson 5 on the Ed Sullivan Show in the late 1960s and was instrumental in launching their career. She was a lifelong friend of Michael Jackson.
Jackson’s longtime lawyer John Branca and John McClain, a music executive and a family friend, are named in the will as co-executors.
Katherine Jackson was granted temporary guardianship Monday of Jackson’s three children. A judge held off on requests to control the children’s estates.
The executors moved quickly to take control of all of Michael Jackson’s property, going to court Wednesday to challenge a previous ruling by the judge that gave Katherine Jackson control of 2,000 items from Neverland.
Superior Court Judge Mitchell Beckloff said Katherine Jackson will retain authority over the items until another hearing set for Monday.
Michael Jackson’s Father Joe Jackson has told reporters that his son will not be buried at Neverland, the family wants to honor Michael’s request to never return to Nederland.
According to a lot of TV an Internet News Michael Jackson’s Accuser Jody Chandler admits Michael Jackson never touched him and his parents made him lie.
The King of Pop will be missed and his music will love forever.
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