Michael Jackson’s estate has made a reported $600 million in the three years since his death, but according to the NY Daily News, the trust that he has left his three children remains on zero.
MJ left this earth with a huge amount of debt, and all of that debt has to be paid for before his children will see a dime. They are currently living on a family allowance given to MJ’s mom and their legal guardian, Katherine Jackson.
But don’t feel too bad for the kids yet. The family’s monthly allowance is $70,000, more than most people make in a year. In addition, once the lawyers settle MJ’s debt, the three children are set to skate away with hundreds of millions of dollars.
On Michael’s orders, Prince, Paris, and Blanket will each have to wait until they’re 21 to touch their riches — but by then, they will land whopping regular handouts. They get lump sums at ages 30, 35 and 40, the trust states. Blanket could get a reported $250 million when he turns 40 years old. Talk about being born with a silver spoon in your mouth!
Email me your rumors at SydneyLaceAHH@gmail.com
GET INTERACTIVE WITH ALLHIPHOP.COM!
Follow us on Twitter! Like us on Facebook!
Email Sydney Lace rumors: SydneyLaceAHH@gmail.com
