According to Prince’s sister, the musician had no known will when he died. She has filed paperwork asking a Minneapolis court appoint a special administrator to oversee his estate.
No person knows for certain what Prince’s net worth was at the time of his death, but speculation is it will be far less than the hundreds of millions one would expect a star of his size to possess.
Prince owned several properties in Minneapolis worth about $27 million in 2016. Plus, Prince sold over 100 million albums on his lifetime and generated $225 million in ticket sales. But after payouts to venders, agents, venues and performers, it is rumored that Prince kept a fraction of what was collected. Tack on his expensive drug habit and desire to throw elaborate parties, and the estate may turn out to be shockingly small.
According to FOX NEWS, in April 2013, Prince lost a suit filed in New York State’s Supreme Court brought by perfume maker Revelations Perfume and Cosmetics Inc. for failing to promote the “3121” perfume line. He was ordered to pay $4.4 million; he never did. After years of being hassled by lawyers, Prince settled for a lower amount. Prince also encountered tax difficulties several times over the years as well.
But odds are Prince will end up being worth more money as a result of his passing. Michael Jackson’s estate, for example, has made over $1 billion since his death in 2009, Forbes reports.
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