Death of Michael Jackson – Posthumous Success Makes Him Richest Dead Celebrity

Filed in Uncategorized by on October 26, 2010 0 Comments

The death of Michael Jackson was earlier than his family and fans ever imagined. Nobody expected the death of Michael Jackson and fans clearly weren’t ready to let go. With the financial struggles he faced during his life, few expected after death of Michael Jackson his estate would generate about $275 million.

 

Death of Michael Jackson in 2009

 

The death of Michael Jackson on June 25, 2009 stirred the world. Michael Jackson died from cardiac arrest after being administered drugs such as lorazepam and propofol. The death of Michael Jackson was declared a homicide by the Los Angeles County Coroner. One billion fans around the globe watched the public memorial service for Michael Jackson.

 

32406, PASADENA, CALIFORNIA - January 31, 1993. Michael Jackson performs during the Halftime show of the 1993 Superbowl in Pasadena. Jackson performed his hits Billie Jean , Jam , Black or White and a special performance of Heal the World alongside a choir of 3,500 local Los Angeles area children. The King of Pop died at his Beverly Hills home June 25, 2009. Photograph: PacificCoastNews.com

Michael Jackson Lifetime Success

 

Michael Jackson certainly achieved great success during his lifetime. The Guinness Book of World Records recognizes Michael Jackson as the most successful entertainer of all time. He was inducted into the Rock and Roll Hall of Fame twice. He is known worldwide as the King of Pop.

 

Michael Jackson received 13 Grammy Awards, the Grammy Lifetime Achievement Award, the Grammy Legend Award and 26 American Music Awards, which is more than any other artist. His album Thriller is the best-selling album of all time. He donated millions to various causes and supported more than 39 charities. The death of Michael Jackson made this artist even more successful.

 

Success After the Death of Michael Jackson

 

Business success happens during life and after death for some of the greatest artists and Michael Jackson is no exception. In March, 2010, Sony Music Entertainment signed at $250 million deal with the Michael Jackson estate to retain distribution rights to his recordings until 2017. Wikipedia reports Sony will also release seven posthumous albums over the ten years following the death of Michael Jackson.

 

In 2009, Michael Jackson was the best-selling artist in the United States selling more than 8.2 million albums. Jackson sold 35 million albums worldwide in the year following his death. MTV reports the new Forbes magazine list reveals Michael Jackson is the richest dead celebrity an estate earning over $275 million over the past year.

 

How Did Michael Jackson Achieve Such Posthumous Success?

 

The Jackson estate proves business success lives on after death. Small licensing deals, a major spike in sales and $250 mil from tour rehearsal film “This Is It” brought in big cash. Music sales totaled $50 mil and his autobiography “Moon Walk” was worth another $50 mil.

 

According to MTV, estate lawyer Donald Davis (who handled finances for Tupac Shakur after he died) stated, “The cash flow on an annual basis is tremendous. Sure, it’s going to decline eventually, but it’s going to be a huge amount in the foreseeable future. [Michael Jackson's] kids are going to have grandkids before that money is gone.”

 

Building a legacy is the ultimate business success. Being able to earn well during a lifetime is a goal many strive to achieve. Earning millions after death is a goal few can attain. Another way to build a legacy is to teach your children the business. The recent formation of the Kringle Candle Company by the son of the founder of Yankee Candle Company is an excellent example.

 

The $275 million dollars earning posthumously is about half of what Michael Jackson owed.  Coming in right behind Michael Jackson is Elvis Presley, as revealed in the video below.

 

© Stacey Mamasaid October 2010 for Gather All Rights Reserved

 

 

About the Author ()

A freelance writer with a passion for life. Empathetic, exciting, eclectic, elegant, quiet, knowledgeable, a good listener, go to the beat of my own drummer.The author of "Mastication on the Beach," a compilation of poems inspired by Gather group

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