Is Jackson Worth More Dead Than Alive?
Before he died, Michael Jackson claimed to have a net worth of $236 million. He also had a great deal of debt, but a recent surge in record sales is offering a glimpse of a potential financial windfall in waiting.
Despite the debt, a court filing estimates that his estate will be worth more than $500 million. His assets are destined for a private trust.
Jackson owned a 50 percent 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.
In life, Jackson was the best-selling artist of all time. And in the days following his death, he's topped the charts once again.
"It's unprecendented. The furor for his music online; in stores, where they literally can't keep Michael Jackson products on the shelves," Billboard magazine's Bill Werde observed.
Fans have downloaded over 2.6 million Jackson songs in the past week-and-a-half alone.
One option for Jackson's family could be to turn the Neverland Ranch into a major tourist destination.
Neverland, Jackson's one-time sprawling estate and private theme park, could be a place of pilgrimage - and a cash cow in years to come.
The home of another late superstar, Elvis, is a Mecca for fans. Some 600,000 visit Graceland each year.
Though he died more than 30 years ago, Elvis' empire of music and memorabilia continues to generate wealth. Forbes cited earnings of $52 million last year, outselling even Madonna, who earned just $40 million.
And that's just for previously released material; now there's word Jackson wrapped production on a brand new DVD and recorded a dozen new songs before he died.
His future earnings, some experts say, could hit $50 million a year from his music, his image, his name, etc.
"As troubled as Michael Jackson's finances have been over the last years, he'll be in better shape and probably more sound financially in death than he was in life," brand attorney David Reeder predicted.
But, according to estate attorney Howard Weitzman, Jackson's potential fortune will have to be protected. "There will be a lot that will be done, sending out cease-and-desist letters to people who are bootlegging or pirating merchandise."