Michael Jackson - Michael Jackson's children spend $8 million a year

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Michael Jackson's children spend up to $8 million a year.

The late King of Pop - who died of acute Propofol intoxication in 2009 - left behind children Prince, 17, Paris, 16, and Blanket, 13, who have allocated finances for their living expenses which are separate from the $1 million plus their grandmother Katherine receives to watch over them.

According to the New York Post's Page Six, Prince's $30,000 yearly tuition at a private school and the six-figure annual sum for Paris to stay at a therapeutic boarding school in Utah following her 2013 suicide attempt, are among the expenses.

A family insider also claims Prince has spent more than $50,000 on custom-made jewellery and other gifts to give to at least three different girlfriends.

The children enjoy up to three holidays a year to places such as Hawaii and Las Vegas, which cost about $350,000, including payments for bodyguards, family members, chauffeurs and first-class travel.

Meanwhile, Paris buys gifts for her friends at school and Blanket spends $200 an hour for karate lessons and more for a personal trainer.

The three also have a chef to whip them up meals at their $26,500-a-month rented mansion in Calabasas, California and they often dine out at trendy restaurants.

A source said: ''These things that they're doing they are mostly paying for themselves, with their own money. Look, they also get $15,000 to $20,000 every month just in walking-around money. No one else has that kind of dough around here.''

''This is why you have had so much of the fighting going on in the family. But the battles have calmed since their uncles have finally found consistent work and everyone has pretty much left [Katherine] alone about money.''

But the source insists although the children spend a lot of money they know when they're splashing out too much.

They added: ''They're not [as bad] as their father [at spending money] ... They also seem to have more of a sense as to when they may be going overboard.''


Contactmusic

Tags: Michael Jackson - Katherine Jackson

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Comments

evileva81's picture

evileva81

Ditto YANNI54 and Ebele!

5 months 3 weeks ago
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T_Yolked's picture

T_Yolked

1. They do not spend 8 million a year. Their expenses are paid and they personal receive less than 5% of amount reported. Even the 8% is something new not what was previously. 2. Contact Music reports this, reported Mrs. Jackson's debts, Michael Jackson's debts and spending, but not once have they reported how much the Executives are taking from the Estate annually. Not once have they reported how the Executors and others are using MJ's music and likeness for personal profit while trying to stop his Mom from publishing a book with his childhood pictures in it. Once Executor receives 22% of the Estates money. Way more than 8 million.

5 months 3 weeks ago
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Ebele's picture

Ebele

Ditto Yanni54...and please may I add to your comment, "ARE SPENDING THEIR OWN INHERITANCE THAT WAS GIVEN TO THEM BY THEIR LARGER THAN LIFE LOVING FATHER"...a Hard-working Genius of a Father too <3

5 months 3 weeks ago
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YANNI54's picture

YANNI54

Sounds to me that THIS FAMILY "SOURCE" is a little jealous or envious of the fact that these kids ARE SPENDING THEIR OWN INHERITANCE THAT WAS GIVEN TO THEM BY THEIR LARGER THAN LIFE LOVING FATHER! This "source" is one of the reasons why Michael couldn't trust people. For some reason these people are always talking out of their blow-holes telling the media the ins and the outs of this family, which is not anyone's business! If anything happens to these children then you can blame these loud mouths "sources" like this because he is now letting the world know what these kids have, which shouldn't ever be disclosed! Ms. Katherine and TJ need to find out who this idiot is and get them away from them and from Michael's kids, especially Paris! STOP TELLING THIS FAMILIES BUSINESS TO EVERYONE, JUST BECAUSE THEY ASKS!

5 months 3 weeks ago
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