Michael Jackson Estate Earns $1 Billion: Jackson's 'Working Day and Night' Even in Death

Almost a year has gone by since the death of the legendary Michael Jackson. As we approach the anniversary, it seems as if we have been much more eager to enjoy to Michael's talents after his death rather than during his life. According to Billboard, Michael Jackson's estate has managed to earn $1 billion in the past year, and his estate is showing no signs of slowing down.

At the time of his death, Jackson was estimated to be worth between $500 million and $2 billion. This great disparity is due to the varying valuation of his 50 percent stake in Sony/ATV Music Publishing, the company that owns the publishing rights to music by the Beatles and other artists (including Eminem, Elvis Presley and Destiny's Child). The copyright catalog itself generates $80 million annually, with the Beatles' hits accounting for at least one-third of that income. We can certainly assume that these monies will continue to contribute to the billion-dollar fortunes of the Jackson estate for years to come.

Even with so much cash income, Jackson was still plagued with debts during his life, which were transferred to his estate upon his death. At the time of his tragic demise, Jackson had at least $400 million in outstanding debts. The majority of that came from unfettered spending and legal costs related to his defense against child molestation charges. But the King of Pop has come out on top in spite of the naysayers he faced during his life. Let's take a look at some of the sources of revenue that make up the astounding $1 billion that Jackson's estate has earned in the past year.

The week that Jackson died, his music dominated the Billboard charts in the Top Pop Catalog, Digital Albums and Top Comprehensive Albums categories. Each chart entry represented the complete supremacy that Jackson had regained in the music industry and the financial boon that accompanies such domination. In the month following Jackson's death alone, more than 9 million of his albums sold worldwide. Eight months later, more than 31 million albums had been sold, with 8.2 million of those sales occurring in the Unite States.

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MJ Through The Years

Remembering Michael Jackson
June 25, 2009 marked the passing of the one and only "King of Pop." With over four decades in the spotlight, he never ceased to amaze us. Fittingly, we've witnessed his incredible highs and tragic lows with rapt attention. In tribute, we take a look at the life of pop music's greatest entertainer.

Courtesy CNNMoney.com

AFP

BlackVoices.com

MJ Through The Years

'Got To Be There'
Jackson, seen here during a 1972 'Top of the Pops' television appearance, was poised for greatness. During that year, he released a total of four solo studio albums with the Motown Records label, among them 'Got to Be There' and 'Ben.'

MJ Through The Years

'I'll Be There'
During the mid-1970s, Michael Jackson evolved from kiddy-pop singer to teen music sensation. Not only did he achieve sterling success with his varied solo projects, the Gary, Indiana native simultaneously recorded hit records with his brothers under their new moniker, The Jacksons.

MJ Through The Years

'Greatest Show On Earth'
Jackson played the Scarecrow in the 1978 film, 'The Wiz,' an elaborate re-envisioning of 'The Wizard of Oz,' directed by Sidney Lumet and starring a cavalcade of the biggest black celebrities of the time, most notably Diana Ross as Dorothy, Nipsey Russell as The Tin Man, Ted Ross as The Cowardly Lion, Lena Horne as Glenda The Good Witch and Richard Pryor in the title role.

MJ Through The Years

'We've Got A Good Thing Going'
Jackson-- pictured here in 1980 reportedly after breaking his nose during a complex dance routine leading to his initial rhinoplasty surgeries -- was riding a wave of success from the Quincy Jones-produced 'Off The Wall' album. It sold millions of copies and garnered a slew of awards, including American Music Awards, Billboard Awards and a Grammy Award.

MJ Through The Years

'Pretty Young Thing'
Jackson was considered a heartthrob to many of his female fans. During his heyday as an adult solo artist, he made the scene with and was romantically linked to a slew of celebrity women, including Stephanie Mills, Tatum O'Neal and Brooke Shields, whom he is pictured with February 7, 1984.

MJ Through The Years

'Come Together'
In 1980, The Jacksons released the 'Triumph' album, featuring the hits "Lovely One" and "Can You Feel It." Their live opus, which followed the next year, used recordings from the group's "Triumph Tour," which was later described by as one of the best 25 tours from 1967 to 1987.

MJ Through The Years

'Thriller'
Jackson posed with a group of dancers dressed as zombies while filming his groundbreaking 1983 music video, 'Thriller,' in Los Angeles. The 13-minute film was helmed by 'An American Werewolf in London' director John Landis and featured choreography by award-winning hoofer Michael Peters. Make-up FX wiz Rick Baker transformed Jackson into a werewolf and a zombie.

MJ Through The Years

'Unbreakable'
A force to be reckoned with, Michael Jackson and Quincy Jones (who also produced the soundtrack for 'The Wiz,' and the 'Off the Wall' album) made history with the 'Thriller' opus. Thriller was first recognized as the world's best-selling album on February 7, 1984, when it was inducted into the 'Guinness Book of World Records.' On February 28, 1984, the two dynamos were awarded the Grammy for "Producer of the Year." That evening, Jackson made history as the first artist to win eight of the coveted statues in one year.

MJ Through The Years

'Remember The Time'
In 1984, The Jacksons released the album 'Victory' and supported the project with the massively successful world tour. Shortly after the jaunt, Michael Jackson left the group as his 'Thriller' album started to gain momentum.

MJ Through The Years

There are even more major milestones that contributed to the $1 billion Jackson generated in the past year. Jackson was preparing for his big comeback tour, 'This Is It,' when he died. But death did not stop him from capitalizing on this great concept. The footage from the rehearsals and preparation for the tour were reworked into a documentary-concert film, and distribution rights were sold to Columbia Pictures for $60 million. The movie went on to gross $260.8 million worldwide, the most for any documentary or concert film ever. Jackson's estate is entitled to 90 percent of the profits and revenue from the film. Sales of the accompanying album and additional merchandising agreements have brought more than $100 million to the estate.

In March, the estate secured the largest recording deal in history: a $200 million guaranteed contract with Sony Music Entertainment for 10 projects over seven years. The landmark deal is worth more than any other noteworthy contract, such as the deals that Live Nation had previously signed with Madonna for $120 million and Jay-Z for $150 million. Jackson's record-breaking contract extends through 2017 and could be worth up to $250 million if certain conditions are met.

Plus, several projects are in the works to satisfy the public's renewed appetite for MJ. The Walt Disney Co. brought the 17-minute Michael Jackson movie 'Captain EO' back to its Disneyland theme park in Anaheim in February. The film will be offered in other Disney parks by July of this year. Through the Sony contract, an album of never-before-released Jackson recordings will come out in November. Additionally, projects may also include a DVD compilation of videos and a re-release of 'Off the Wall,' Jackson's fifth studio album, which first came out in 1979, accompanied by some unreleased material.

And, of course, we all know about the new Michael Jackson dance move video game, which is sure to be a hit around the world.

Michael, beloved by the world, will make his children multibillionaires by the time their trust funds ripen. Nevertheless, the value of losing one of music and entertainment's greatest influences is simply beyond measure. And no one can put a price on losing an adored dad. Jackson was these things and more to the family, friends and fans who love him for who he was and is -- still the King of Pop.

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