Where do his children go from here? What happens to his debts? Was there a will? Where are his record sales heading after his death? Is his family satisfied with the autopsy?
Where do his children go from here? What happens to his debts? Was there a will? Where are his record sales heading after his death? Is his family satisfied with the autopsy?
His body
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His childrenLegal experts see a big battle ahead, not only for what remains of his fortune but also for the custody of his children who would stand to inherit his money. 12-year-old Michael Joseph "Prince" Jackson Jr, 11-year-old Paris Michael Katherine Jackson and 7-year-old Prince Michael II Jackson were in Jackson's sole custody after his divorce from Debbie Rowe, the two older kids' biological mother. It is not known if a will has been left behind but friends say he might have wanted his mother to have custody of his children.
His debts
He made $50 million a year and his overall worth was believed to be around $750 million. Yet, when he died, Michael Jackson was $500 million in debt. He spent simply millions on extravagant buys that made headlines the world over. It is reported that there was no financial planning, not for himself, neither for his children. However, at the time of his death, he still had part-ownership to 251 songs written by Paul McCartney and John Lennon, worth $1 billion.
The concerts
Michael Jackson was to do 50 concerts starting July 13. It is believed that organisers are expecting to recover some costs through insurance. But nothing is known about how they will refund fans who'd bought tickets priced between u00a350-75 each. Total losses incurred will be north of u00a3300 million. This includes the cost of the venue, O2 Arena in London, as it will now lie unused for the duration of the show. u00a350 million is estimated to have been spent on 7.5 lakh tickets.
Record sales
Sales of his albums have gone up. Rajesh Salian, Landmark, Andheri said, "Michael Jackson's 25th Anniversary Deluxe edition DVD is sold out." Rhythm House's Mehmood Curmally says, "We have sold around 70 copies of his music since Friday. Sivaraman Balkrishana, deputy manager, marketing, Crossword said, "In Mumbai we used to sell 15 to 20 albums in a week. We sold 15 on Saturday. The most selling album is The Essential Michael Jackson followed by Dangerous and Thriller."
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