By Ruth Manuel-Logan on Jun 1st 2010 3:25PM
Michael Jackson's will was made public last year, but until now, all of the details of his trust have remained a private matter.
News of the World got its hands on the details of the King of Pop's trust, and each of Jackson's kids will be rolling in the dough by the time they turn 30.
According to the trust, Prince, 13; Paris, 12; and young Blanket, 8, will receive a 40 percent share of their deceased dad's estate, or by today's calculations $33 million each. Upon turning 30, each child will receive a third of their share, and at age 35, they'll receive half. At 40, they get the remainder.
The Jackson matriarch, Katherine, as stipulated in her son's will, gets 40 percent of his interests, which translates into a possible $99 million and legal guardianship of the children. Upon her death, the remainder of her share will automatically go to Jackson's three children. The final 20 percent will go to whatever charity Jackson named in his will.
It was reported last year that the megasuperstar's estate was worth $500 million upon his death. The estate allegedly consisted of non-cash, non-liquid assets, including a catalog of music royalty rights and interests in various entities.
Since Jackson's estate (and the business that is generated from it) will only increase, his children may be looking at not $33 million but at least $300 million when it is time to collect their fair share, as speculated by economists.
Reportedly, Jackson's fellow group members and brothers Tito, Marlon, Jermaine and Jackie; brother Randy; former wives Debbie Rowe and Lisa Marie Presley; sisters Latoya, Rebbie and Janet and patriarch Joe were all excluded from the entertainer's will.
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Comments: (14)
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By: ADMR on 6/01/2010 5:03PM
PeaNuts AND They NEED To SEE a Shrink
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By: Jazzbenzo on 6/01/2010 6:19PM
Sorry Joe, Micheal hated you!
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By: mralways right on 6/17/2010 6:13PM
JaZZ MJ DID NOT HATE JOE IN MJ LAST TV GUIDE INTEVIEW ..MJ SAID ..HE DID NOT HATE JOE AND THAT JOE HAD MELLOWED HIS OLDER AGE AND THAT GET ALONE QUITE WEL THESES DAY EVEN THO THEY HAD SOME FIGHTS AND DISAGREEMENTS LIKE MOST FATHER AND SONS DO ..MJ MADE IT QUITE CLEAR HE LOVED HIS DAD.
MJ KNEW HIS MOM WOULD BE BETTER FIT TO TAKE CARE OF LAST WISHES AND THE WILL THEN JOE..
MJ WAS ALL ABOUT LOVE!
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By: MS PEGGY on 6/01/2010 6:29PM
God forbid it happens, but what if one of the children dies before the age of 40. Will their share go to the remaining siblings?
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By: David1 on 6/01/2010 7:01PM
This is a shame. These are WHITE children that have NO blood relationship with Michael Jackson. Jackson was a great entertainer but he had so much racial hatred for himself and his race that he would rather pass his fortune to these white children who he paid two white people to have for him rather than his blood relatives.
I doubt if all these white celebrities like Madonna, Angelina Joline, Sandra Bullock, Tom Cruise etc who adopt black children will leave them their estates and a fortune when they die. They will be lucky if they are even mention in their wills.
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By: Sus7637 on 6/01/2010 7:21PM
DAVID JUST BECAUSE YOUR FULL OF HATE AND YOUR HEART IS CHARRRED BLACK AND EVIL, WITH A PITCH FORK NEXT TO YOUR BED..... DONT BRING YOUR SELF HATEFUL ASS IN HERE BECAUSE YOUR JEALOUS, MISERABLE, AND DONT LIKE YOURSELF DEEP DOWN.
SEE WHERE HATING AND EVIL GETS YOU IN THE LONG WRONG IGNORAMUS! YOU'LL REGRET WHEN IT'LL BE TOO LATE. I SUGGEST YOU WORRY ABOUT YOUR SAGGY SKIN, YOUR LIVERSPOTS AND CROWS FEET.... AND KEEP THE COSMETIC DOCS NUMBER HANDY. YOUR WRINKLED UP CRACKED SKIN IS GONNA NEED HIM OR HER! LMAOOOOOOOOOOOOO
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By: lee on 6/17/2010 5:48PM
PUNK dadid who the hell told you them kids aren't MJ's themkids are MJ's biological kids they re bi-racial ..the only peson that got hate for themselves is you!1 yo are a "knownothing" jealous backwood assclown you dont know mixed race of kids when you see them ..lol Poof on you bozo david you little white jealous coon!
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By: Mr always right on 6/17/2010 6:12PM
David whenyou gget off your tail watching MJ video today remind yourself about this..you do not speak for anyone that include MJ nor any white celeberties that adopts black children..God gave themkidsto them celeberties ..You sure do have hate in yor heart.I bet your just some poor backwood redneck that sits on a park bench with snot running down your nose ready to pounce on some innocent bi-racial or black child to rob them of their hapiness .You area bitter nasty "KNOWNOTHING" BOZO David
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By: I agree with David1 on 6/02/2010 9:00AM
Michael Jackson was a very sick man, he was a dope addict, he was addicted to plastic surgery, and he hated being a black man. these are reasons to contest the will, on the grounds of Mental illness!!! Michael's dermotologist and his nurse,debbie rowe, trick Michael into thinking these children were his. Michael paid alot of money to these two people for those children! And last I heard, it was against the law to "buy" children. But not if they stand to inherit 33 million dollars each. I would like to see how much of that money the children are going to give their "real parents, Klein and debbie rowe???
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By: you can thank MK Ultra brainwashing for this. on 6/02/2010 8:58AM
I believe Michael Jackson was a Monarch child, who was brainwashed from the time he enter the show business up until his death. Michael was programmed to hate his African features and his black family, ( divide and conquer) and turn himself white. And leave his millions of dollars to white children who was not his. Study the MK Ultra symptoms of brainwashed individuals and you will see Michael Jackson had all the signs and was used as an experiment. Poor Michael he never knew what hit him. I hope his family will expose these "Devils" so this will not ever happen to any other celeberty. but, I doubt it, because enough money paid will shut up the truth. What a Shame, and it will happen to someone else, you can bet on it!!! Maybe Britney Spears will turn herself Black and leave all her money to three black children who aren't hers. RIGHT! ONLY IN HOLLYWOOD!!!
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