The King of Pop may have died broke, but he eventually became a billionaire after his death. As per TMZ, in a span of 6 years after the singer's death, his estate was able to generate a whopping 2 billion.
As per one of the sources who exclusively informed the news website stated that the funds were generated from his movie "This is it" and the Cirque show "Michael Jackson: The Immortal World Tour". Aside from both the movie and the show, he was able to sell 50 million albums. All these came after his death on 2009 at the age of 50.
His $2 billion estate was then trimmed down to $80 million after expenses. It was then cut by tax which declined to $450 million. At the time of his death, Jackson has an estimated debt of $500 million.
As per Celebrity Net Worth, additional income is about to be produced as Jackson's estate is in negotiations with Sony in selling his catalog worth $2 billion. As per the news website, Jackson purchased the ATV music catalog from Robert Holmes for $47.5 million which has roughly 750,000 songs including "The Beatles" whole catalog.
Jackson then merged his catalog share with Sony in which he was paid $95 million. As of this date, the news website stated that the catalog is already worth $2 billion. This kept Jackson financially stable while battling bankruptcy in the mid-2000. In 2006, Jackson decided to sell half of his catalog to Sony and the other half at a later date, which is now being discussed by his estate.
As per one of the sources, Sony is scheduled to meet with Jackson's representative to work out the terms of the deal. It was also stated that what they have is an all or nothing deal, which means that either Sony or Michael Jackson will have 100 percent ownership of the ATV catalog.
