Michael Jackson Children Getting $33M Each
Michael Jackson Children Getting $33M Each – Reports have surfaced that in the wake of Michael Jackson’s death that he left each of his kids, Prince, 13, Paris, 12, and Blanket, 8 $33 million a piece in the event of his untimely passing. His children were awarded a whopping 40% of his entire estate, but will likely not be able to touch the money until they turn 18. Each of the children will receive a monthly allowance until they reach the age of 30, then the fund will be split three ways, with each child being rewarded a third of the share. The remaining portions of the trust will be handed out at age 35 and at age 40, ensuring that they have time to grow and mature before being handed such large amounts of money.
By the time the children are old enough to receive the money, the inheritance will be much larger than it is now. The funds will spend the next thirty or so years gathering interest, and will also inherit their grandmother Katherine’s share of the money, which is reported to be just below the $100 million mark.
Jackson donated the rest of his estate to charity, a total that marked around 20% of the estate. Debbie Rowe, the mother of his oldest children, will reportedly receive none of the estate, along with an assortment of friends, siblings, staff and guardians. Jackson also omitted the inclusion of his father Joe, which seems to be a deliberate act at this point and time. The act is likely revenge for the abuse the Michael suffered growing up at the hands of his fame-hungry father.
Category: Michael Jackson