For years there has been talk that Michael Jackson was broke with perhaps the saddest example of his deteriorating bank account being the demise of Neverland. But while he may have made some shoddy decisions with his money, he planned very well for his children Prince, Paris, and Blanket.
The kids will receive 40% of Michael’s estate when they turn 30. His mother, Katherine Jackson, gets another 40 percent during her lifetime (when she dies, the remainder goes to the kids), and 20 percent goes to charity. Sadly, nothing was left for a Bubbles tribute.
When each of the kids turns 30, the trustees must then give them a third of their share outright. When the kids reach 35, they get half of their share outright.
So how much?
It grows every month and will reach to over $300 million in total, more than $33 million for each child.
Michael’s brothers, sisters, and father have not been left any finances. Says a source, “Michael’s mother and his children were the dearest thing to him in his life, so he made sure that they would benefit when he died. In truth, those children will never have to want for anything – and that’s what Michael wished for.”
For all the public circus surrounding Michael, the kids seem to be doing fine. They’ve mostly been kept out of the public eye, but were recently seen on YouTube acting incredibly normal and looking happy.