Michael Jackson may have died heavily in debt, but he has made every arrangement to make his three children a billionaire each by the the time they reach 40. According to Jacko’s strategically-drafted will, the kids inherit $33 million each, a fortune which will be accessible to them in installments the moment they celebrate their thirtieth birthday. Add to it the proceeds from the share of his mother Katherine (she’s already entitled to $99 million from the legacy) when she dies and the returns from some wise investments, and each of the kids will be a billionaire by 40.
According to News of the World,
Under the terms of the Michael Jackson Family Trust fund, first drafted before he had children, and signed off in 2002, the three kids are today each worth $33m (£23m). That will be boosted by the proceeds from the share of Katherine, 80, when she dies. The children can apply to fund trustees for cash when they reach 21, but they will have to be 30 before they get free access to a third of their share. At 35 they get a half share and the full amount at 40. Marketing experts reckon that with Katherine’s cash, future commercial ventures and interest, they will have $300m each in the pot by 30. And by the time they are 40 that could easily have soared to a billion, especially for youngest Blanket who will have to wait until 2042 for the full sum.
The surprising side of the will, however, is that the King of Pop has left nothing to his ex-wives or his other family members. This shows how much concerned Jacko was about the financial security of his children and his mother. And this makes him even more adorable in the eyes of millions of fans worldwide.
