Michael Still Earning Millions Of Dollars
Even though Michael’s family are still not happy with the executors of his will, John Branca and John McClain, his earnings are rising by millions of dollars.
The Estate has already earned $100million for a film deal and various merchandising contracts and his executors expect another $100 million to roll in by the end of this year.
“Clearly that’s a new record for estates that likely will not be broken,” said John Branca, Michael’s longtime lawyer. Many more deals are waiting for the judge’s approval. Cash has been collected from former advisers who had held money for Michael, several million dollars from one, and the executors have tracked down a collection of Michael’s personal memorabilia and other items that were almost auctioned off last April to pay debts. The items, which included artwork and several glittery, white gloves that had been at Michael’s ranch and stored in several locations around Los Angeles.
“When you look at what the Presley estate has done, you see the opportunities here,” John Branca said. “I quite frankly think this will be a bigger estate.”
Michael’s many assets include his Neverland Ranch, the Beatles Catalogue he co-owns with Sony, his own song catalogue. Of the Beatles catalogue John Branca says; “we do not contemplate selling any portion of Sony/ATV.”
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Source: NYTimes & MJWN