Who Gets Jackson's Money? Joe, Siblings Stiffed (2023)

July 2, 2009 -- Who will get Michael Jackson's money? Days after the pop singer died in Los Angeles, his intentions are now coming into focus.

Money from a trust set up by Jackson will be divided between his mother Katherine, who will get 40 percent of his assets, his three children, who will get another 40 percent, and several children's charities to be designated at a later date, which will get the remaining 20 percent, a source close to the estate told ABC News.

He leaves nothing to his siblings, his father Joe Jackson, or anyone else, according to the source.

Jackson's will was filed in a Los Angeles courthouse Wednesday, expressing Jackson's wish to give custody of his three young children to their 79-year-old grandmother and cutting out his ex-wife Debbie Rowe.

All assets will be placed in a trust to be executed by two trusted advisers, the specifics of which may never be made public.

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Jackson gave custody of his three children, two sons and a daughter, aged 7 to 12, to his mother Katherine Jackson. In the will Jackson specified that if his mother died before he did, then singer and longtime Jackson friend Diana Ross would gain custody of the children.

The specifics of how Jackson wanted his estate to be distributed are not included in the 2002 will, but in a separate document overseeing the trust. Jackson mentions his three children by name, but none of the other members of his family are named as beneficiaries.

The will specifies that Debbie Rowe, Jackson's ex-wife, and mother of his first two children has been "intentionally omitted" from receiving anything.

Jackson, 50, who died June 25 of an apparent cardiac arrest in Los Angeles, named John Branca, his attorney, John McClain, a friend and record executive, and Barry Siegel, his accountant, as executors of the Michael Jackson Family Trust.

In 2003, Siegel resigned from his role as trustee, according to a statement issued on behalf of the named trustees.

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The documents said Jackson's estate consisted almost entirely of "non-cash, non-liquid assets, including primarily an interest in a catalogue of music royalty rights which is currently being administered by Sony ATV, and the interests of various entities."

Jackson had $567.6 million in assets, including his Neverland Ranch and his share of the Sony/ATV Music Publishing catalog, which includes the rights to songs by the Beatles, according to the AP.

The AP analysis puts a net value on Jackson's 50 percent stake in the Sony/ATV catalog — his most prized asset — at $390.6 million. The 750,000-song catalog also includes music by Bob Dylan, Neil Diamond, Lady Gaga and the Jonas Brothers.

By putting the specifics of how he wanted his estate distributed in a trust rather than in the will itself allowed Jackson's wishes to remain private, lawyers said.

"Celebrities typically establish living trusts to avoid probate, which is a very public process," said Andy Katzenstein, a Los Angeles-based estate lawyer.

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"In a trust you, the odds are it will never be made public and we'll never what was in it. The will, on the other hand, has to be made public," Katzenstein said.

The will does not specify how Jackson wanted to be laid to rest, fueling speculation about where Jackson might be buried.

A family spokesman Wednesday quashed a rumor that Jackson would be laid in state and possibly buried at Neverland Ranch.

"Contrary to previous news reports, the Jackson family is officially stating that there will be no public or private viewing at Neverland. Plans are underway regarding a public memorial for Michael Jackson, and we will announce those plans shortly," the statement read.

Jackson's three children Michael Joseph Jr., 12; Paris-Michael Katherine Jackson, 11; and Prince Michael Jackson, II, 7, known as Blanket, have been staying with their grandmother Katherine at the family compound in Encino, Calif., since Jackson's death last week.

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Michael's father Joe Jackson was not named as a custodian of the children, but is married to Katherine and will therefore become a de facto guardian. Jackson regularly said in interviews that his father Joe had abused him as a child. Joe and Katherine remain married but are believed to be separated, with Joe spending much of his time living in Las Vegas.

On Monday, a California judge granted Katherine Jackson temporary guardianship of her grandchildren.

Jackson and Rowe, mother of Jackson's two oldest children, were briefly married following their son's Prince's conception 12 years ago, but divorced six months after daughter Paris' birth. Rowe gave Jackson custody of the children, but sued him in 2006 for breach of contract in an attempt to regain custody. The pair settled out of court for undisclosed terms and Jackson retained custody.

Despite reports that Rowe has not been close to the family for more than a decade and may not be biological mother of any of the children, she would still have "an advantage" should she seek custody, lawyer Gloria Allred told "Good Morning America," despite the will's naming of Katherine as sole custodian.

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Rowe reportedly signed away her parental rights to the children after the divorce, but in 2006 an appeals court reestablished her parental status.

"Katherine would have to show it would be detrimental [to the kids for Rowe to have custody]. That's a very heavy burden," Allred said.


Did Michael Jackson leave any money to his siblings? ›

After Katherine's death, her share would revert to the children. In the meantime, the executors had 'absolute discretion' to decide how the money from the Katherine Jackson Trust would be distributed. There was no provision for Michael's father or siblings.

Who are the beneficiaries of Michael Jackson's estate? ›

Under the terms of the trust, Michael Jackson's children are in line to receive $33 million each. Michael's mother, Katherine Jackson, will receive her share of the estate immediately, and any portion remaining when she passes, will be split between Prince, Paris and Blanket.

Who is receiving Michael Jackson's money? ›

In May 2021, a judge ruled that Michael's estate was worth US$111 million. In his will, MJ left 40 per cent of his assets to his three children, to be split equally. Twenty per cent of his wealth was left to multiple children's charities and the 40 per cent that was left all went to his mother, Katherine.

Did Debbie Rowe get any money from Michael Jackson? ›

The couple divorced in April 2000, and Rowe gave full custody rights of the children to Jackson. Rowe received a US$8 million settlement and a house in Beverly Hills, California.

How much money did Jackson inherit? ›

In 2021, the Tax Court issued a ruling in favor of the estate, ruling that the estate's total combined value of the estate was $111.5 million and that the value of Jackson's name and likeness was $4 million (not the $61 million estimated by the IRS's outside expert witness).

Does the Jackson family have money? ›

Net Worth: $100 Million

The matriarch of the Jackson family, Katherine Jackson, was the only one to receive a portion of the Michael Jackson estate when he passed away. As a result, her net worth (per Celebrity Net Worth) is $100 million.

How much are the Jackson siblings worth? ›

Overall, Michael Jackson's net worth is estimated at $500 million, and the net worth of his sister, Janet Jackson, is said to be $175 million.

Does Michael Jackson still make money? ›

Despite being bankrupt back in 2009, Michael Jackson's estate has over the years made more than $2 billion. Michael Jackson made over $2 billion after his death! The King of Pop is one of the biggest names in the music industry and has stayed the same despite his passing away 13 years ago.

Does Michael Jackson's estate still own the Beatles catalog? ›

A decade after the initial deal, Jackson sold 50 percent of ATV to Sony for $95 million, creating the music publishing company Sony/ATV. Today, the company owns the rights to the Beatles' songs, as well as those from artists like Bob Dylan, Marvin Gaye, Lady Gaga, Taylor Swift, Hank Williams, and Roy Orbison.

Who owns Michael Jackson's Masters? ›

The Jackson estate retained its ownership of Mijac Music, which holds the rights to Michael Jackson's songs and master recordings. The revenue will be placed in trust for Jackson's children.

How much money did Pepsi give Michael Jackson? ›

In November 1983, one year after 'Thriller' was released, Michael Jackson (and his brothers) struck a $5m (£3.1m) partnership with Pepsi to become the first pop stars to front campaigns for the brand.

Do the Jacksons still own the house in Gary Indiana? ›

Jackson still owns the house and the house next door, and visits every so often. Underwhelming. Large stone memorial no longer there. The only way to tell it was MJ's home is because it's the nicest looking one in the neighborhood with a metal fence around it.

How much did Michael Jackson's kids get? ›

Michael Jackson Left Millions To His Children

According to Michael's will, his three children — Prince, Paris, and Blanket — will receive $33 million each. They each received allowances until they turned 21 and will gain access to one-third of their trust fund at age 30.

Who owns Michael Jackson estate? ›

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.

How much money did Paris Jackson get? ›

Paris Jackson is the second child and only daughter of Michael Jackson. Paris Jackson has received over $65 Million as inheritance from her father.

Do all the Jacksons have money? ›

Because these talented performers have been entertaining the masses for so long, most of the Jackson clan has achieved a handsome net worth. Even after his death, Michael continues to earn money for his estate, but he's hardly the only member of the Jackson family to achieve financial success.

How much money has Michael Jackson made after his death? ›

Michael Jackson made over $2 billion after his death! The King of Pop is one of the biggest names in the music industry and has stayed the same despite his passing away 13 years ago. Besides having a big name, the singer also had a big fortune through his albums.

Does Michael Jackson own Elvis? ›

' Jackson never did manage to acquire any rights to Elvis Presley's catalog, however. Following his death on August 16, 1977, at Graceland, the King's music catalog was owned entirely by 'The Elvis Presley Trust', to which Lisa Marie eventually became the only surviving beneficiary.


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