Michael Jackson's Estate Earns Over $300K in Royalties Including The Wiz Amidst $46 Million Revenue

The estate of Michael Jackson collected more than $300,000 from royalties and other recurring payments throughout 2021, featuring earnings from his iconic 1978 film The Wiz, as Us Weekly has exclusively learned.

John Branca and John McClain, the pair overseeing Michael’s assets as co-executors, submitted a financial statement to the court on September 16. This report indicated that the estate generated more than $46 million in revenue over the course of the year, with the royalties and residuals making up just a fraction of that total.

The submitted documents detailed overall royalties and income totaling $308,673 that the estate acquired during that timeframe. On August 24, 2021, NBC issued a $50 payment to the estate specifically for The Wiz.

Sidney Lumet directed the musical The Wiz, an adaptation of The Wonderful Wizard of Oz, in which Michael played a starring role. The movie also featured performances from Diana Ross, Lena Horne, and Richard Pryor.

According to the same report, NBC made additional $50 payments on August 24, 2021, and again on October 29, 2021.

Universal Music Group remitted $2,391.93 and then a further $2,537.69 to the estate for 2020 earnings. Broadcast Music Inc. also contributed more than $4,000. The largest single payment stemmed from a Capital One advertisement, which brought in $250,000 for the estate. Furthermore, the report indicated that the estate secured $30,000 in upfront payments for an upcoming musical production.

The co-executors documented assets exceeding $700 million. Additional expenditures encompassed $150,000 for consulting services, $146,000 for insurance, $881,176 for storage expenses, $254,000 for freelance workers, $2 million in attorney fees paid to the firm Ziffren Brittenham, an additional $2.5 million in various legal costs, $63,000 for a consultant handling “IRS litigation matters,” and close to $8 million designated for a co-executive and creative director.

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As initially disclosed by Us, the executors’ accounting detailed the financial provisions made for Michael’s offspring: Paris Jackson, Prince Jackson, and Bigi Jackson.

Michael passed away on June 25, 2009, at 50 years old. His children and his mother, Katherine Jackson, are designated as the inheritors of his estate.

Over the course of the year, Paris, aged 27, was allocated payments amounting to $3,273,681, alongside an additional $10,000 for residential construction. The report indicated that the estate covered Paris’s rental costs (approximately $18,500 monthly), more than $20,000 for a travel agency, and numerous tax obligations.

Further expenses borne by the estate included over $100,000 directed to a production firm involved in Paris’s music video for her track “Let Down,” featured on her inaugural album Wilted, and $450 spent at an acting academy.

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Prince, aged 28, was granted stipends accumulating to $2,128,511.38. His expenditures comprised $25,000 for educational fees, $1,300 at the famed Hollywood eatery Pink’s Hot Dogs, upwards of $60,000 for an event management firm, several thousand dollars on a Chevron fuel card, $2,000 for apparel services, and $4,000 for valet parking charges. Bigi, 23, had his costs totaling $1,053,085.99 covered by the estate. In addition to tax payments, his outlays included $28,264 for tuition.

Moreover, the estate acquired a residence for Bigi and managed all associated costs. Residences were similarly procured for Paris, Prince, and Katherine.

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Court filings show Branca and McClain asserting that they rescued the estate from the “edge of bankruptcy” and transformed it into an entity valued at over $2 billion, becoming a major player in the music and entertainment sectors.

Lawyers representing the executors stated, “These endeavors have allowed the Executors to maintain consistent and substantial provision for Mrs. Jackson and Michael Jackson’s offspring, in line with Michael’s wishes.”

As Us initially reported, Paris and the estate are presently engaged in a dispute concerning particular legal expenses that the estate sought to have covered. In legal paperwork, Paris expressed significant reservations regarding these disbursements.

The estate dismissed her assertions, affirming that all payments were appropriate and essential for its administration.