How Michael Jackson's estate is spending its fortune
The details of court filings of how the Michael Jackson estate is spending its fortune have been revealed.
In 2012, Katherine Jackson, matriarch of MJ's family received 1.386 million dollars in allowance from her late son's estate.
The three children of 'The King of Pop' received 3 million dollars as allowance whereas their bodyguards got 500,000 dollars as their share, Radar Online reported.
The monthly electric bill for the Calabasas mansion was 2,500 dollars and the cost for living in the rental for 2012 was 418,013.69 dollars. The rent for the Jackson's mansion was 26,000 dollars.
Even though no one was residing at the house in 2012, utilities including phone, gas, and electricity added up to 35,842.05 dollars when in fact, storage and moving fees for 2012 came up to a whopping 806,872.52 dollars.
The website further reported that renovations for the Encino mansion was 154,323.53 dollars in 2012, including a 12,000 dollars home theater renovation project, 3,225 dollars studio repair and pond keeper services for 814,43 dollars.
(Posted on 22-02-2014)