Katherine Jackson, the 93-year-old mother of the late pop star Michael Jackson, has reportedly received a substantial sum of over $55 million from his estate since his passing in 2009.
According to TMZ, a representative for Michael Jackson’s estate confirmed that legal documents have been filed after Katherine requested financial assistance to appeal an undisclosed business transaction made by the estate.
The documents reveal that Katherine has received monthly allowances totaling roughly $160,000 over the past 15 years, amounting to over $55 million.
She was also granted $15 million from the estate to purchase and renovate a home in Calabasas. The estate has also covered expenses such as transportation, a private gardener, personal security, and a private chef for Katherine.
The executors of the estate have used the amount of money provided to Katherine as a basis for arguing that she can afford to cover her legal fees for the appeal. Recently, Michael Jackson’s youngest child, Bigi ‘Blanket’ Jackson, filed legal documents to prevent his grandmother from using estate funds for the appeal.
Despite initially working together to challenge the undisclosed transaction, the court ruled against them, leading to conflicting decisions on pursuing the case further.
While the details of the disputed transaction remain undisclosed, speculation suggests it may be related to Sony Music’s potential acquisition of a stake in Michael Jackson’s catalogue. Reports indicate that Sony Music plans to invest between $600 to $750 million for a share in the iconic singer’s catalogue, valued between $1.2 to $1.5 billion.
The unfolding legal battle sheds light on the complexities and controversies surrounding Michael Jackson’s estate and the ongoing financial disputes within his family. As the legal proceedings continue, the legacy and financial assets of the King of Pop remain subjects of intense scrutiny and debate.
