Michael Jackson’s kids set to inherit $1.74 billion when they turn 30

MICHAEL Jackson’s three children are set to inherit the whopping $1.74 billion his estate is worth.

Michael Jackson's children, Prince Jackson (L), Blanket Jackson (C) and Paris Jackson (R) speak on stage during the 'Michael ...

MICHAEL Jackson’s three children are set to inherit the whopping $750 million ($A1 billion) his estate received for the sale of his Sony catalogue.

Sony Music paid the staggering sum for Jackson’s half-share of the Sony/ATV Music Publishing catalogue, which features hundreds of hits from stars like Bob Dylan, Eminem and Taylor Swift.

His three children, Prince, Paris and Blanket will inherit their share when they turn 30, which was stipulated in his will.

His 2002 will stated that each of the children will get a third of their share at 30, another half five years later and the remainder on their 40th birthday.

Prince Michael Jackson, LaToya Jackson, Blanket Jackson, Monica Gabor and Paris Jackson in October 2012.

Jackson’s 86-year-old mother Katherine receives forty per cent of net income, but when she passes, her wealth will be passed on to her three grandchildren.

Last night a legal insider close to The Jacksons told The Daily Mail that Jackson’s worth was now close to A$1.74 billion.

“They really are sitting on a billion dollar future — none of them need work again in their lives. It has been a remarkable turn around given that the estate only valued his business at around $3m at the time of his death due to his debts.”

“He wanted the kids to taste life rather than just live off his fortune so he made it that no money could be automatically earned until they were 30.”

“’That means all of them have a good opportunity to go out into the world and make a go of things in their industries. The Trust fund documents are very clear. So while they are billionaires on paper in reality that is not quite the case.”

Originally published as Michael Jackson’s kids set to inherit $1.74 billion when they turn 30