Michael Jackson is widely regarded as one of the twentieth century’s most influential cultural figures. His contributions to music, dance, and fashion, as well as his publicized personal life, made him a global figure in popular culture over a four-decade career. According to the executors of Michael Jackson’s estate, the iconic ‘Bad’ music video outfit is worth hundreds of thousands of dollars.
Everyone wishes to own a piece of the King of Pop. It has been over 12 years since Michael Jackson died, and clothing from his estate is still being valued at exorbitant amounts. According to the executors of Michael Jackson‘s estate, the iconic ‘Bad’ music video outfit is worth hundreds of thousands of dollars.
The one-of-a-kind piece of memorabilia is valued at $271,875, according to new legal documents obtained by The Blast from the King of Pop‘s estate. The information was shared with a Los Angeles County judge as part of accounting for the pop star’s massive estate provided to the courts. Surprisingly, the sum appears alongside other assets owned by the Jackson family, such as a Bentley and other items.
The black leathered, multi-belted, and buckle laded suit had been hanging in Michael’s closet since the 1980s, but it is now considered one of the most valuable pieces of Jackson memorabilia available. Following the pop star’s death, the MJ Estate and its executors spent over a decade cleaning up the father of three’s financiers, eventually getting it to the point where it earns hundreds of millions of dollars in revenue each year.
This isn’t the first time one of the King of Pop‘s many iconic outfits has been valued at a high price. During a recent auction, the red and black jeans and jacket he wore in the Thriller music video fetched $1.8 million. The jacket was worn during Michael’s first solo tour, and it sold for more than a quarter-million dollars to a Texas businessman, despite many people believing the $298k price tag was a bit too conservative.
Since Jackson’s tragic death, the total value of his estate has risen to more than $2 billion. Following MJ’s death, his estate’s executors established his finances to continue providing for his three children, Paris, Prince, and Bigi aka “Blanket,” as well as his mother Katherine.
“Michael Jackson provided the sole financial support for his children and was Mrs. Jackson’s primary source of support. The Executors have endeavored to continue to meet the financial needs of Mrs. Jackson and the children. The Executors have done so through a family allowance for Mrs. Jackson and the children as well as various other means.”
“Mrs. Jackson resided in the Estate’s real property on Hayvenhurst Avenue in Encino, California for more than thirty years. At the time of Michael Jackson’s death, the mortgage on Hayvenhurst was in default. The Executors paid the mortgage in full. The Executors made and continue to make from time to time necessary repairs and improvements to Hayvenhurst to address maintenance and other issues. The Executors have continued to provide for the maintenance of Hayvenhurst, including estate management, security, and staff.”
It’s unclear whether the estate is keeping the piece or if it’s on display somewhere else, given that there are numerous Jackson museum exhibits and collectors all over the world. To get the latest updates, keep an eye on Thirsty.
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