The estate of Michael Jackson has once again topped Forbes’ annual ranking of the highest-paid dead celebrities, reaffirming his status as the King of Pop even in death. According to the latest list, Jackson’s estate generated a staggering $105 million in the past year alone, bringing his total posthumous earnings to an estimated $3.5 billion since he passed away in 2009. This remarkable financial legacy showcases not only his enduring popularity but also the complexities of managing a high-profile celebrity estate.
A Market Built on Music, Image, and Control
The 2025 Forbes list prominently features musicians, with 10 of the top 13 names hailing from the music world. This dominance reflects the reality that musical catalogues tend to remain lucrative long after an artist’s death, continuing to generate income through sales, streaming, and licensing. The nature of music intellectual property often allows its creators to retain a larger share of profits compared to actors or those from other entertainment sectors.
Other notable estates on this year’s list include music legends like Prince, John Lennon, and Bob Marley. Their ongoing revenue streams stem from the continued demand for their master recordings and publishing rights across multiple platforms. Additionally, the estates of stars like The Notorious B.I.G., Miles Davis, and Jimmy Buffett have managed to secure significant windfalls through strategic sales of rights to third parties, often backed by financial investors.
How Jackson Reshaped Posthumous Earnings
Forbes highlights how Michael Jackson fundamentally changed the landscape of posthumous earnings. Although Elvis Presley initially topped the first list in 2001 and has remained a fixture since, many experts believe Jackson “broke the paradigm” regarding potential earnings after death. One estate attorney mentioned that there exists “MJ, then an enormous canyon, then everybody else.”
What sets Jackson apart? His proactive decisions during his lifetime, particularly regarding ownership. He not only controlled his own publishing and master recordings but also made a landmark purchase of the ATV catalog in 1985 for approximately $47.5 million (equivalent to about $142 million today). This acquisition included nearly 4,000 songs, containing many notable hits from the Lennon-McCartney partnership. When Jackson’s estate sold its stake in that catalog to Sony in 2016 for an estimable $750 million (around $1 billion today), it set a new precedent for music-asset sales.
New Deal, New Dispute
The financial wheels of Jackson’s estate continued to turn with the sale of 50% of his publishing and master recordings to Sony for $600 million in 2024. However, this decision was met with controversy. Jackson’s mother, Katherine, voiced her opposition, claiming the deal contradicted Jackson’s wishes and attempted to challenge it in court. Despite her efforts, the transaction solidified itself as one of the largest single income sources for any celebrity estate that year, illustrating the complex and often tumultuous landscape of managing celebrity estates.
Moreover, this situation connects to a broader trend highlighted by Forbes: it is increasingly uncommon for families of deceased celebrities to maintain complete control over their loved ones’ names, images, and creative works, unlike what happened with icons such as Marilyn Monroe or Muhammad Ali during their estates’ peak values.
Shows, Residencies, and Endless Demand
Jackson’s merchandising brilliance has proved equally lucrative. His concert film This Is It, released posthumously in 2009, grossed around $267 million worldwide. Following this, a Cirque du Soleil tour themed around his music launched in 2012 and earned $160 million in revenue, making Jackson one of the highest-earning figures in the music industry that year.
This achievement subsequently morphed into a lasting fixture with Michael Jackson ONE in Las Vegas and the Broadway show MJ: The Musical, which premiered in 2022. Collectively, the ticket sales from these productions have reached almost $300 million across global audiences, demonstrating that Jackson’s brand continues to thrive despite the controversies surrounding his legacy.
Why Musicians Keep Rising on the List
The permanence of musicians on the Forbes list can be attributed to several factors. First, their music possesses a universal appeal, allowing it to be licensed, streamed, or performed worldwide, uncoupled from any specific market constraints. Moreover, many estates still maintain ownership or can sell parts of the lucrative "residual income" that arises from publishing rights, master recordings, and touring-related intellectual property.
Despite a cooling music-rights market since the pandemic era—when some catalogues reportedly sold for over 20 times their annual revenues—high demand persists among buyers for top-tier, globally recognized musical repertoires. This continued interest allows newer estates like those of The Notorious B.I.G. and Miles Davis to secure their spots on the 2025 ranking.
Brands That Do Not Fade
While the list is dominated by musicians, it also showcases estates that profit from branded products associated with their owners. For example, the Arnold Palmer drink brand generates an impressive $200 million in annual sales, keeping the golfer’s legacy alive. Kobe Bryant’s Nike shoes continue to perform exceptionally well on the market, while Jimmy Buffett’s Margaritaville brand has expanded into clothing, hotels, and even retirement communities targeted at fans.
These successes share a commonality: the estates have managed to sustain brand visibility, aligning them with products still in demand and, when feasible, collaborating with investors to ensure further expansion.
Overall, the 2025 Forbes list highlights how only 13 estates made the cut, collectively earning $541 million before taxes and fees. This narrow field underscores the reality that many celebrities fade from commercial viability shortly after their passing, while only a select few, like Jackson, manage to maintain and grow their financial legacies.