Michael Jackson - Jackson Estate Has Pulled In $310 Million Since Star's Death
MICHAEL JACKSON's estate has made a staggering $310 million (£206 million) in revenue since his death, according to court records.
The pop superstar passed away with massive debts amounting to a mammoth $400 million (£266 million), boosted by a huge number of creditors demanding alleged unpaid monies after his demise.
But papers filed in a Los Angeles court on Thursday (17Feb11) show the Thriller star's estate is heading back in to the black thanks to a huge surge in posthumous record, film and merchandising sales.
The estate administrators have now paid off $159 million (£106 million) of the pop star's debts.
Court papers state, "Although there remain unresolved creditor claims, pending litigation and additional challenging business, tax and legal issues, and the estate is not yet in a condition to be closed, the executors have made substantial progress in reducing the estate's debt."