Michael Jackson’s Estate Executors Reveal Pop Star's Mom Katherine’s 7-Figure ‘Allowance’ as She Fights $600 Million Music Catalog Sale
A family member said the freeze has put Michae's mother Katherine and his kids in 'financial straits.'
March 19 2024, Published 10:00 a.m. ET
The executors of Michael Jackson’s estate revealed they paid the late pop star’s mother over $1 million in “family allowance” in 2020 — as they continue to duke it in court out over the $600 million sale of MJ’s music catalog.
John Branca and John McClain, the executors, recently submitted a financial report, obtained by RadarOnline.com, that details the income and expenses from January 1, 2020, to December 31, 2020.
MJ's mother is opposed to the decision to sell half of late son's music catalog to Sony because she feels confident her son would not have wanted it.
The executors said, “As reflected in the previously filed Accounts and this Account and Report, the Executors have been able to create exceptional and unique opportunities that did not exist at the time of Michael Jackson’s death to generate substantial revenues and enhance the image and legacy of Michael Jackson for the benefit of the beneficiaries of Michael’s Trust.”
The duo revealed that as of “December 31, 2023, the Estate generated gross earnings well in excess of Two Billion Dollars.”
Jackson's lawyer want to depose a security guard who allegedly witnessed the abuse.
Branca and McClain said, “With the assistance of their counsel, the Executors have successfully rebuilt and enhanced Michael Jackson’s image, solidified the MJJ business as a significant entity in the entertainment industry, entered into and continue to enter into unprecedented business deals that have produced, and will in the future produce, significant revenues for the Estate, and have settled or disposed of most of the creditors’ claims and litigation.”
In the financial report, the executors said the estate had $656 million in property on hand at the start of the time period. The estate pulled in $34 million in income and ended the period with $760 million. The estate said it disbursed $35 million in 2020.
The estate said Michael’s mother Katherine was paid $1.1 million in 2020 for various legal bills. In addition, the home she lives in is paid for by the executors. Katherine received another $800k to make renovations to her Calabasas mansion.
The estate spent another $112k on expenses for the mansion.
In 2020, Michael’s daughter Paris was paid $300k for construction-related costs on her Hollywood home. The executors paid Paris an additional $723k in 2019 for construction costs.
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As RadarOnline.com first reported, Katherine and the executors are locked in a bitter court battle over the recent sale of Jackson’s music catalog.
The estate sold half of the catalog to Sony for $600 million. The court approved the deal despite Katherine’s objections.
Katherine appealed the decision — and argued the estate had no authority to sell off the asset.
