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Michael Jackson: Rich after death
Michael Jackson continues to earn a fortune nearly seven years after his passing,
this time with his estate selling his share in the Sony/ATV Music Publishing catalog to Sony Corp. for a massive $750 million.
No doubt that will keep his children afloat for a while. It was announced on Monday that he would sell his half of the company which he bought for the comparatively measly sum of $41.5 million in 1985.
The new deal means that his estate has relinquished any ownership of work from such artists as The Beatles, Bob Dylan, Eminem and Taylor Swift.
“This agreement further demonstrates Sony's commitment to the entertainment businesses and our firm belief that these businesses will continue to contribute to our success for years to come,” Sony Corp. president and CEO Kazuo Hirai told the media in a statement.
Since his death in 2009, the legacy of Michael Jackson has already pulled in an impressive amount of money.
He broke records as the first artiste to exceed one million music downloads and his historic albums sold better than any new record released that year.
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