Breakdown of Michael's Will

July 3, 2009 By:
Breakdown of Michael's Will

New details of Michael Jackson’s will have been revealed. TMZ has reportedly gotten a hold of the breakdown of assets. Here’s who gets what:

Katherine Jackson: 40% of the asssets; Michael’s 3 children: 40% of the assets. Remaining 20% goes to various childrens’ charities, which have not been designated, and were not specified in the original trust.

Since it’s likely Jackson will be leaving a massive amount of debt to his guarantors, the real money is in Jackson’s ownership of the Sony publishing catalogue, which includes the songs of the Beatles, among other acts. He purchased it in 1985 for $47.5 million. Jackson’s stake is reportedly worth $1 billion, and he is thought to have half a billion dollars in debt.