If the phrase “more money more problems” ever had a meaning, well this issue with Michael Jackson’s kids completely epitomizes it. According to reports Prince, Paris and Blanket will lose most of their over $1billion inheritance due to their late father’s debts which are said to be in the region of $600 million. The kids are due to inherit their fortune when they turn 30 but it now looks like little of it will be left by then as authorities are believed to be seeking $620 million from the Jackson’s estate.
The creator of the moon walk is also believed to have died with other debts worth over $335 million. A source revealed: “On paper the kids are billionaires thanks to these massive sums. But the truth is those sums will barely be in their accounts for any time as they have this huge tax bill to settle”. It’s thought that the tax figure has now increased by almost $80 million, after Jackson’s stake in Sony/ATV Music Publishing was sold for $589 million. The math may be slightly complex but it doesn’t seem like the Jackson kids will have much left after these debts are settled.
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