As the son of the King of Pop, Michael Joseph Jackson Jr., better known as Prince, enjoyed all the perks of royalty. But this youngster is not unique in that way. He is actively engaged in his enterprises and charitable initiatives and is dedicated to leaving a legacy.
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Analysis of Michael Jackson’s Earnings After His Demise
Prince’s father, Michael Jackson, still possesses a $500 million fortune. In addition, he continues to be the highest-paid deceased celebrity on the list. In 2020, George Harrison, Freddie Mercury, John Lennon, and Bob Marley were all eclipsed by Michael to claim the title of the highest-paid deceased celebrity.
That year, Michael’s earnings were projected to be $48 million. His long-term contract with Sony and the Mijac Music library account for the majority of his income. He has held the top-earning distinction for eight years in a row thanks to his hefty multimillion-dollar deal with Sony and earnings from his music collection.
Does His First Son, Prince aka Michael Joseph Jackson Jr., inherit his father’s wealth?
Michael Jackson set up a trust for his kids, Prince Michael “Blanket” Jackson II, Paris Katherine Jackson, and Michael Joseph “Prince” Jackson, Jr., before he passed away in 2009.
The specifics of the trust are a little too complicated to go into here, but in general, it provided that Michael’s three children would split 40% of his assets among themselves.
The remaining 20% went to various children’s charities, with 40% going to his mother Katherine. There were other factors as well. The children were also expected to receive allowances until they became 21. Then, when they turned 30, 35, and 40, they would each get one-third of their designated trust fund.
23 is a great age to start carving out one’s niche in the world. King’s Son Production, Prince’s production firm, is already carrying this out.
From short films and music videos to full-length feature films, his production firm aids in the development of projects. By helping other gifted artists achieve their goals, he hopes to carry on his father’s creative legacy through the production company.
In regards to the production’s name, he is likewise not subtle. While his father was the “King of Pop” and he was the “Prince,” Prince said in an Instagram video that he had to earn the title, and his production business was working hard to do that. Prince undertook the production of his sister Paris’ music video, and he was ecstatic to show off the finished product.
By giving low-income inner-city children access to co-curricular educational programs, Prince’s Heal Los Angeles Foundation assists in raising money for high-quality education and value. His foundation offers the resources needed to pursue a higher degree in addition to stressing an active and healthy lifestyle.
Online cookery workshops for primary school pupils have recently been offered by Prince Jackson and his organization. The King of Pop’s charitable endeavors includes selling merchandise to collect money for charities and services.
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