Showing posts with label Music Icon. Show all posts
Showing posts with label Music Icon. Show all posts

Wednesday, 23 March 2016

Michael Jackson's Children Can 'Lose Everything' to Debt and Uncle Sam

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MICHAEL Jackson's estate is being chased by US tax authorities for £555m, battering the inheritances of the late king of pop's children.


Prince, 17, Paris, 17 and Blanket, 14, reportedly do not have access to their trust funds until the age of 30, but insiders have claimed that by that time there could be nothing left of the £900m left to them.
This is because the music icon is believed to owe more than £300m in additional debts which are yet to be cleared.


“On paper the kids are billionaires thanks to these massive sums. But the truth is those sums will barely be in their accounts for any time as they have this huge tax bill to settle," a source told The Sun.