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Wednesday, October 26, 2011
Man in the Mirror: Michael Jackson Tops Forbes List of Highest Earning Deceased Celebrities
For the second year in a row, Michael Jackson has earned the top spot on Forbes magazine list of highest earning deceased celebrities. The estate of the superstar singer, who died June 25, 2009, earned an estimated $170 million over the past year, through record sales as well as licensing rights and Jackson's lucrative stake in the Sony music catalog. As impressive as the sum of $170 million is, it's actually a steep decline from the amount the estate brought in last year, which was estimated to be a staggering $275 million in revenues! Unfortunately, the largest portion of that amount was taken to pay off the incredible debt Jackson had accrued over the past several decades, in particular the millions of dollars the star spent defending himself in court on molestation charges.
The number two spot on Forbes list went to perpetual top earner Elvis Presley ($55 million), with Marilyn Monroe at number three with earnings of $27 million.