King of Pop: New Ruling on Late Michael Jackson's Estate Says It’s Worth Under N1.7bn
- A new ruling on the King of Pop Michael Jackson's estate suggests that the late star is worth just under $4.15 million (N1.7bn)
- Judge Mark Holmes found that the Smooth Criminal hitmaker's valuation dropped after his passing in 2009
- The judge also added that MJ's image had been affected by accusations of child molestation
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A new ruling on Michael Jackson's estate has revealed that he's worth $4.15 million (just under N1.7bn).
US tax court Judge, Mark Holmes, found that the King of Pop's valuation dropped significantly following his death in 2009.
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The judge said Jackson's image and reputation have continued to drop ever since.
According to Variety, Holmes ruled that Jackson's image had also been affected by the child molestation allegations levelled against him.
"We must decide how what he did and is alleged to have done affected the value of what he left behind."
Complex reports that Jackson's estate has been embroiled in a legal showdown with the Internal Revenue Services over taxes owed.
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The publication said Holmes' ruling would cut down the estate taxes bill that Jackson’s mother and children will have to pay.
The estate had ultimately said their valuation was $5.3 million (N2bn) and the IRS said it was $482 million (N196bn).
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In other entertainment news, Legit.ng reported that Will Smith took to social media recently to share that he is in the worst shape of his life amid the COVID-19 pandemic.
The Hollywood superstar posted a shirtless photo of himself on Instagram on Monday, May 3.
In the photo taken near a pond, the Bad Boys actor donned a pair of slippers, tight shorts and a blue jacket with no shirt underneath.
Will's belly was out there for the whole of his 53 million followers to see.
Source: Legit.ng
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