Prince’s massive $156 million estate continues to generate income…but for whom?

On June 7, superstar Prince would have turned 64. The flamboyant artist left a great legacy for his fans. Prince left behind a whopping $...

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  • On June 7, superstar Prince would have turned 64.
  • The flamboyant artist left a great legacy for his fans.
  • Prince left behind a whopping $156 million estate that continues to generate income.

HAPPY BIRTHDAY, PRINCE! On June 7, superstar Prince would have turned 64 years old and, although many continue to mourn his tragic death, the flamboyant artist left a great legacy for his fans to enjoy. He also left a massive estate worth $156 million that continues to generate income.

A music legend. No doubt about it. Prince was a singer with a wide vocal range, as well as a composer, dancer, businessman, producer and musician. He was a guitar virtuoso and played other instruments but he also stood out for his extravagant costumes and his incredible staging. Prince was Prince.

Prince’s massive $156 million estate continues to generate income

Prince's massive $156 million estate continues to generate income for whom?
Photo: Twitter

Unfortunately Prince Rogers Nelson passed away on April 21, 2016 of a drug overdose. Although he left much too soon and unexpectedly, he also left a gigantic legacy for the world of music. Prince started on the right foot from the beginning of his career in the 70’s and by the time he died he managed to sell more than 100 million albums. A figure that continues to grow since his death, according to Forbes.

Purple Rain had 3,107,000 buyers in the Soundscan Era, that is 1992 to date, and so easily tops the list of albums by sales,” Forbes writes about the artist’s best-selling album containing the song When Doves Cry. LISTEN HERE.

How much money did Prince have?

Prince's massive $156 million estate continues to generate income for whom?
Photo: Twitter

In addition to the huge number of records he sold, Prince wrote songs that also became hits, such as The Glamorous Life for Sheila E and Nothing Compares 2 U for Sinead Connor. Both songs were huge successes.

With such an incredible body of work, when Prince died in 2016, he had an estimated net worth of between $200 and $300 million, according to Celebrity Net Worth. But something unexpected happened, Prince had no will, no children and no wife… so a legal battle began.

The battle over Prince’s fortune

Photo: Twitter

In January 2022, Comerica Bank and Trust, which is the administrator of Prince’s estate, reached an agreement with the United States Internal Revenue Service (IRS) with which they determined that the artist’s estate is currently $156.4 million, according to Entertainment Weekly.

The truth is that, at first, Comerica had estimated the value of Prince’s estate at about $82.3 million, but the IRS said that the heirs of the famous singer had underestimated it by as much as 50%.

Who are Prince’s heirs?

Photo: Twitter

Of course, the next question is: Who are his heirs? Prince had no will and no children or wife to inherit his fortune so it all ended up in the hands of his closest relatives: his five half-siblings. In fact, since the debate about the artist’s inheritance began, two of these half-siblings have already died and two are in their 80s.

Although others have also benefited from the artist’s work. “Lawyers and consultants have been paid tens of millions of dollars to manage his estate and come up with a plan for its distribution,” Forbes reported. “In the end, the estate will be divided almost equally between a well-funded New York music company, Primary Wave, and the three eldest of the music icon’s six heirs.”

The post Prince’s massive $156 million estate continues to generate income for whom? appeared first on Mundo Hispánico.

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