• He left behind an estate that includes part ownership in a Beatles music catalog and his own music company that held rights to some of his music.
• He was said to be as much as $500 million in debt when he died, but his assets have been reported to be worth as much as $1 billion.
• That value could rise over time if his popularity in death grows, as with other entertainers like Elvis Presley.
Details of Michael Jackson’s will began to emerge Wednesday with all of his multimillion-dollar estate being placed in a family trust, even as plans for his highly anticipated funeral remained sketchy.
The will, signed in 2002, estimates his estate at that time to be worth in excess of $500 million. In it, Jackson leaves his entire estate to the Michael Jackson Family Trust, which ultimately benefits his three children, mother and unnamed charities.
Jackson’s 79-year-old mother, Katherine Jackson, is nominated to be guardian of Jackson’s children Prince Michael I, 12, Paris Michael Katherine, 11 and Prince Michael II, 7, and if she should be unwilling and unable to be guardian, Jackson nominated his friend, pop star Diana Ross, to be the children’s guardian.
The five-page document said “I have intentionally omitted to provide for my former wife, Deborah Rowe Jackson.”