Everyone is still in shock at the the death of Prince. Aside from how he died, it’s not immediately clear who stands to inherit his fortune and song catalogue.
Prince Rogers Nelson, died in his home state of Minnesota, where, in the absence of a will, inheritance laws determine how an estate is divided. The estate goes, in order, to the following people; grandchildren, parents and siblings, followed by other relatives. Prince’s parents have been dead for more than a decade. Four of his siblings are ones still alive (at least two have died).
The singer had no living children. His son with first wife Mayte Garcia, Boy Gregory, died from complications related to Pfeiffer syndrome seven days after his birth in October of 1996. Three years later, Prince ended his marriage with Garcia, who said that they never recovered from the loss. Prince later married Manuela Testolini, but that ended in 2006 after five years.
Prince was a faithful Jehovah’s Witness who reportedly regularly attended Kingdom Hall services, it stands to reason he may have willed at least a portion of his fortune to the church. He contributed to many charities over the years including the Elevate Hope Foundation, which was founded by muse, drummer Sheila E. It uses music and the arts to support children who have experienced abuse.
Prince’s estate is worth $300 million, according to the Celebrity Net Worth. Of course that figure will increase if his his unreleased music sees the light of day.
He was a shrewd businessman recently signing an exclusive deal with new music streaming service Tidal, which removed his music from every other music streaming website. (If you were like me you were on Spotify looking for music yesterday.)
Prince sold more than 80 million records globally, which puts him in the top tier of all-time album sales. I can seriously recommend his Hits & B-Sides. I was listening to it all day yesterday and it reminds you that he really was a musical genius.
(via International Business Times)
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