Who owns Michael Jackson's estate? Music catalog sale worth $800-$900 million edges closer

Michael Jackson's estate is in the news, with the announcement of a possible deal between the estate and Sony Music for the rights to the late singer's musical catalog, a deal speculated to be at least $800 million dollars in value.

The estate rights currently belong to the survivors of the Jackson family, including the late singer's mother, Katherine Jackson, and his three children, Paris Jackson, Prince Jackson, and Blanket Jackson. John Branca, an attorney, and John McClain, an accountant, administer the estate.

The deal for the late singer's musical compendium is the latest in a long series of music rights acquisitions, including that of Bruce Springsteen and Justin Beiber.

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Michael Jackson's family fortune

The singer's estate will state that each of his surviving family members is secure in the future, with substantial portions of the estate wealth going to each of them.

Katherine Jackson owns a 40% stake in the estate, with an estimated net worth of $100 million, as well as a monthly stipend of $67,000, although the stipend mostly goes towards the welfare of her grandchildren. When she passes away, her 40% stake will be split into three parts and given to her grandchildren, Prince, Paris, and Blanket.

All three of Michael Jackson's children will each receive $33 million, split into three payments to be processed at the ages of 30, 35, and 40, respectively, and were also given stipends of an undisclosed amount till the age of 21. Each one of them is worth close to $100 million, making them all independently wealthy.

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Tracing Michael Jackson's wealth and assets

Michael Jackson's estate receives an estimated revenue of nearly $400 million each year from music sales, music licensing, and other revenue generated from the late singer's records.

The combined value of the properties and other avenues owned by the estate is estimated to be around $114 million, while the late singer's brand image is valued at $4 million.

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Tracing Michael Jackson's career

Michael Jackson began his musical career alongside his brothers in the band Jackson Brothers, later transitioning to Jackson 5 when the singer took over as lead vocalist of the band.

The group received critical acclaim and commercial success with the single I Want You Back, which stayed at the number 1 spot on the Billboard Hot 100 chart for three consecutive weeks.

While the singer maintained his links with the family band, he quickly established himself as a solo artist with his album Off The Wall, released in 1979, featuring songwriting contributions from Stevie Wonder and Paul McCartney, among others.

The album was a commercial hit, reaching 3 million in sales before the end of the year in the US alone. Additionally, it was a commercial and critical success for the singer, earning him three American Music Awards and the Grammy for Best Male R&B Vocal Performance.

Michael Jackson himself, however, was disappointed with the performance of Off The Wall and felt he could do better. He made the song Thriller, which is frequently cited as being his best work to date.

Thriller was released in 1982 becoming the single-most-selling album worldwide, a status that continues to date. The album won eight Grammy awards at the 1984 Grammy Awards and eight American Music Awards at the 1984 American Music Awards.

The album was added to the Library of Congress catalog and the Grammy Awards Hall of Fame in 2008.