*Michael Jackson’s estate has revealed that the outfit the late singer wore in the “Bad” music video is worth hundreds of thousands of dollars.
Here’s more from The Blast:
According to new legal documents, obtained by The Blast, the King of Pop’s estate lists the one-of-a-kind piece of memorabilia as being worth $271,875. The information was shared with a Los Angeles County judge as part of an accounting given to the courts for the pop star’s massive estate. As we reported, the MJ Estate and its executors spent years following his death cleaning up the financiers and eventually got it to a place where it earns hundreds of millions of dollars in revenue each year. Interestingly, the tax-related documents are a few years old, so it’s unclear if the estate is holding on to the memorabilia or if it is displayed in some location.
Meanwhile, MJ’s outfit in his “Thriller” music video was sold for $1.8 million at Julien’s Auctions, per the report.
In a recent accounting document, the estate noted that Jackson continues to bring in “in excess” of two billion, money that provides for his three children, and his mother.
“Michael Jackson provided the sole financial support for his children and was Mrs. Jackson’s primary source of support. The Executors have endeavored to continue to meet the financial needs of Mrs. Jackson and the children. The Executors have done so through a family allowance for Mrs. Jackson and the children as well as various other means,” the document states, according to the report.
It continues, “Mrs. Jackson resided in the Estate’s real property on Hayvenhurst Avenue in Encino, California (“Hayvenhurst”) for more than thirty years. At the time of Michael Jackson’s death, the mortgage on Hayvenhurst was in default. The Executors paid the mortgage in full. The Executors made and continue to make from time to time necessary repairs and improvements to Hayvenhurst to address maintenance and other issues. The Executors have continued to provide for the maintenance of Hayvenhurst, including estate management, security, and staff.”
In related news, a new Broadway musical about Jackson is in the works.
The theatrical tour titled “MJ” will reportedly hit 17 major cities over two years starting in 2023. It kicks off in Chicago at the James M. Nederlander Theatre on July 15, 2023, News 9 reports.
“We are thrilled by the Broadway response to ‘MJ,’ and that we are already deep in preparations to bring this exhilarating show to Chicago and across the United States,” said producer Lia Vollack in a statement. “Chicago is a premier theater and music destination, and we are excited to be able to begin this journey in one of the Nederlander Organization’s most beautiful venues.”
The complete cast and additional tour stops will be announced at a later date.
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