Michael Jackson's children Prince Michael, Paris and Blanket Jackson receive an annual allowance of $8 million.
As Michael Jackson's estate grows in value, the yearly allowance his children Prince, 17, Paris, 16, and Blanket, 12, share has increased from $5 million to $8 million-and it sounds like they take full advantage of it.
Page Six talks to sources including former Jackson friend Marc Schaffel, who's now engaged to Jackson's ex-wife Debbie Rowe, for details on how the kids spend their money:
-Prince has spent more than $50,000 on custom-made jewelry for three of his girlfriends, plus $40,000 on a new Ford pick-up truck. He wants to save enough money to buy back his father's Neverland Ranch, currently in control of creditors with an asking price of $35 million.
-Paris also likes to buy gifts for friends, including shoes and athletic gear. The annual cost for her to stay at a therapeutic boarding school, following last year's suicide attempt, is also in the six figures.
-Blanket likes to take his cousins to dinners at expensive restaurants; their nights out, which also include trips to the movies, typically come to about $500 plus tips. He also spends $200 an hour for karate lessons and a personal trainer.
The kids also take three vacations a year, totaling $350,000 including first-class airfare and security-in Hawaii, they stay in a $5,500-per-night suite; in Vegas, they sometimes rent the Bellagio's penthouse suite, which can cost as much as $5,000 per night.
Even so, "they're not [as bad] as their father" when it comes to spending wildly, one source says. Sources recall crazy stories about MJ, including the time Elizabeth Taylor pointed out jewels she liked in a catalog and Jackson sent two members of his security team on a private jet to Switzerland to buy them. He also spent $90,000 to impress Macaulay Culkin, sources say. Once, he took Culkin "on this expensive gondola-like ride along the ocean and buys Mac's caretaker an expensive necklace and sends her shopping just so he could spend time with him," a source says.Jacked from Yahoo
2 comments:
I guess this puts all those stupid rumors that Michael was broke to rest.
Yeah they get 8 mill a piece (24 mill) while the estate and the conservators are bringing in 150 million!! Like I said every lawyer, accountant, judge who is managing MJ's estate are going to be generational wealthy for the rest of their lives and their family's lives from this cash cow.
Post a Comment