King of Pop's estate has rebounded since death
LOS ANGELES, CA -- When Michael Jackson died, some people said he'd be worth even more than when he was alive -- and they're turning out to be right.
The money is rolling in and the bills are being paid.
Without the lavish spending sprees, and with the help of new revenue from nostalgia for the King of Pop, estate co-executors John Branca and John McClain have dramatically turned around Jackson's finances.
What was once a collapsing empire with more than $500 million in debt now looks to be able to support his three children and his mother.
The estate has earned more than $250 million in the year since he died. Millions in debt has been paid and a steady flow of cash is covering the interest on what's left.
And if Elvis Presley is any example, a moderate level of earnings could flow into Jackson's estate for decades.
los angeles, entertainment
- HISD decides fate of two schools at risk of closure 26 min ago
- Driver fleeing police kills 2 at SXSW festival 27 min ago
- IRS uses woman's tax refund to pay old debt 20 min ago
- Arrest made in connection to murder of two women
- Jet aborts takeoff after gear failure in Philly
- HCSO: Man shoots teen inside daughter's bedroom
- 5 things you may not know about Pope Francis
- Church offering drive-through prayers
- Death toll rises to 7 in New York City blast
- Missouri City man charged in wife's death
- Groups protest chemicals used in Apple's iPhone
- Recognize either of these guys?
- Texans re-sign tight end Garrett Graham
- Rice hoops coach Ben Braun resigns