Michael Jackson’s kids cost $4.3 million a year between housing and other living expenses according to court documents. AZCentral reports that Michael Jackson’s three kids, Prince, 18, Paris, 16, and 13-year-old Bigi (formerly known as Blanket), have quite the set-up, and don’t seem to need a thing based on the detailed documents.
Aside from $450,000 a year for a house in Calabasas, California, the kids also have their school paid for, as well as staff, workers, vacation expenses, and more.
“A total of $75,000 in fees for Buckley School was also spent for Prince and Paris, before the latter dropped out, with $30,000 also being spent on a separate school for ‘young performers.’ Other expenses included chartering a private plane for $140,000, $470,000 on staff at their properties as well as $47,000 on other workers, $935 on Bigi’s 11th birthday bash and $428,000 for a trip to Hawaii with Prince and Paris’ biological mother, Debbie Rowe.”
Michael Jackson’s kids’ $4.3 million a year in living expenses is shocking to some people who couldn’t imagine spending one million a year on their whole family (some people don’t even see that kind of money over a lifetime). The bottom line is that Michael Jackson made sure that his kids would be well taken care of in the event that something happened to him.
Jackson passed away in 2009. His three kids are in the care of his mother, Katherine Jackson, 85. Many say that Michael Jackson was worth over a billion dollars, and court documents indicate that his kids will inherit his estate when they get older, according to Contact Music. This suggests that the kids will be financially stable for the rest of their lives.
“The three children are set to inherit equal shares of the estate, but not until they reach the age of 33, where they will receive half, with the rest being given to them aged 40.”
And although Michael Jackson’s kids cost $4.3 million a year, this money does not count the additional $1 million a year that Katherine receives to care for the children.
As previously reported by the Inquisitr, Jackson’s estate is currently being held in a trust, which means that all of the expenses must be reviewed by the court. The three kids have $8 million allotted to them and their lives each year. As the kids get older, and their needs change, there will be enough money to accommodate them. There is no question that Michael made sure that his kids would never go without money.
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