Michael’s debts are being settled

Five months after the death of the stage and entertainment legend, his $250 million in debt is now being paid off. Royalties from the release of his songs, as well as the income from the film This Is It, have brought in nearly half a billion dollars for Michael’s children. This income does not include the sale of his memorabilia and keepsakes. Michael’s lawyers are busy responding to financial complaints that were filed in court after Michael Jackson’s death and the increase in his earnings. But according to experts, none of these financial cases and debts can deal even the smallest blow to the enormous fortune left behind by the King of Pop. Currently, in Forbes magazine’s ranking of the highest-earning deceased celebrities this year, after “Yves Saint Laurent,” the fashion designer and composer, and “Rodgers and Hammerstein,” he holds the third position. Of course, this ranking is before the high sales of the film This Is It. The film’s sales have already surpassed $240 million. The This Is It album, released on the market before the film came out, entered the top 10 albums in 120 countries worldwide — even though This Is It contained a collection of Michael’s older songs that had previously been released again and again. To this revenue, you must also add the sales of his other albums. Sony Music says that sales of Michael’s albums will exceed $180 million by this year’s Christmas. Matthew Miller, the editor of Forbes, believes that for years, Michael Jackson will be the highest-earning deceased person in this magazine. This year, Elvis Presley’s $34 million income was like a dwarf compared to Michael—a giant. In Miller’s view, Michael was a multi-millionaire who lived like a billionaire. But now, experts say that by the end of this year, the profit for his heirs—his three children—will become billions. According to Miller: “None of them will have to work for even a single day in their lives to earn money. Unless they choose to.” Source: eMJey / express.co.uk