Jackson kids cost $4.3M/year: Michael Jackson Kids 4.3 Million
Published: August 18, 2015
Jackson kids cost $4.3M/year: Michael Jackson Kids 4.3 Million, Michael Jackson’s kids reportedly cost $4.3 million every year. According to court documents, the exorbitant expenses do include school tuition. However, a large portion of the funds are spent on trips, parties, and home renovations.
Paris, Prince, and Prince Michael II are rumored to be worth nearly $1.5 billion. However, they will not have access to their late father’s wealth until they turn 33. They will not have full access to Michael’s estate until they turn 40.
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Michael Jackson’s estate is currently being held in trust. Therefore, all expenses must be reported through the court. Although children are never cheap, Michael Jackson’s kids spend around $4.3 million of their trust fund each year.
As reported by Castanet, their yearly expenses include $595,000 for renovations to their grandmother’s home, $450,000 for renovations to a separate home for the children, $470,000 for staff, $428,000 for a trip to Hawaii, and $140,000 for a private plane.
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Although the amounts seem excessive, $4.3 million is just over half the children’s yearly allowance of $8 million.
As reported by the New York Post, the $8 million allowance is in addition to the $1 million Katherine receives each year for expenses related to caring for the children.
Paris, Prince, and Prince Michael II do spend quite a bit of money each year. However, sources said they “are a lot more frugal than their father was.”
In a June 2014 interview, the unnamed source said Michael routinely spent hundreds of thousands on decor, jewelry, and other trinkets.
“There were times he and [Elizabeth Taylor] would be sitting at her house or at Neverland, and she’d be looking through a catalog of jewels and she’d just point out the ones she liked… Once, when she pointed out the jewels, instead of ordering them, Michael hired a private jet and sent two security guys to Switzerland to buy the jewelry… “
Like their late father, Paris, Prince, and Prince Michael II are also generous with their money. Prince, for example, is rumored to have “showered more than $50,000 in custom-made jewelry and other gifts on at least three different girlfriends.”
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– Gobari Crown (@Gobaricrown) July 5, 2015
Although Michael Jackson’s kids spend an estimated $4.3 million each year, they are not likely to run out of funds.
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