As Michael Jackson’s estate grows in value, the yearly allowance his children Prince, 17, Paris, 16, and Blanket, 12, share has increased from $5 million to $8 million-and it sounds like they take full advantage of it.
Prince has spent more than $50,000 on custom-made jewelry for three of his girlfriends, plus $40,000 on a new Ford pick-up truck. He wants to save enough money to buy back his father’s Neverland Ranch, currently in control of creditors with an asking price of $35 million. Paris also likes to buy gifts for friends, including shoes and athletic gear. The annual cost for her to stay at a therapeutic boarding school, following last year’s suicide attempt, is also in the six figures. Blanket likes to take his cousins to dinners at expensive restaurants; their nights out, which also include trips to the movies, typically come to about $500 plus tips. He also spends $200 an hour for karate lessons and a personal trainer. The kids also take three vacations a year, totaling $350,000 including first-class airfare and security-in Hawaii, they stay in a $5,500-per-night suite; in Vegas, they sometimes rent the Bellagio’s penthouse suite, which can cost as much as $5,000 per night.
Michael Jackson kids receive $8M a year allowance. I see no way this could ever go wrong?