Michael Jackson’s Mom Katherine Accused of Owing Six-Figure Sum in Back Taxes as She Fights Late Son’s Estate Over Secret Deal
Katherine Jackson, the 93-year-old mother of late pop icon Michael Jackson, finds herself entangled in financial troubles as she battles Michael’s estate over a secret deal the estate’s executors proposed.
According to legal documents obtained by The Blast, the State of California Franchise Tax Board has filed a tax lien against Katherine Jackson. The lien pertains to unpaid taxes spanning four years, from 2018 to 2021, amounting to a staggering $909,263.94. This financial obligation was linked to Katherine’s Calabasas residence.
Secret Deal
Jackson’s tax predicament emerges amid a contentious legal battle with Michael Jackson’s estate. The estate, managed by executors John Branca and John McClain, sought court approval for a confidential business deal — without Katherine’s consent — that could benefit the estate’s beneficiaries, including Michael’s three children: Prince, Paris and Blanket.
The late Michael Jackson’s estate continues to generate substantial wealth, with estimates suggesting a worth exceeding $1 billion, especially if the sale of his music catalog proceeds as planned. According to Variety, in February, the estate was negotiating the sale of 50 percent of its interests in Michael’s music catalog for $800 million to $900 million. The deal is being facilitated by Sony Music, Michael’s former label, and a financial partner, to purchase 50 percent of the estate’s interests in Michael’s collection as well as his “publishing, recorded-music revenues, the “MJ: The Musical” Broadway show, and the upcoming biopic ‘Michael.'” Potential buyers include Eldridge Industries and Shamrock. Eldridge invests in businesses across insurance, asset management, technology, mobility, sports and gaming, media and music, real estate, and consumer landscapes. Shamrock Capital is a Los Angeles-based investment firm that invests in the media, entertainment, and communications sectors.
In 2016, Sony agreed by investing $750 million to acquire 50 percent of the Jackson estate’s share in its joint enterprise, Sony/ATV Music Publishing, which was established in 1995. Then, in 2018, Sony publicly disclosed its acquisition of the estate’s 25.1 percent interest in the EMI Music Publishing company for $287.5 million. This acquisition was part of a larger $2.3 billion procurement deal for the entire EMI Music Publishing company, ultimately making Sony the sole owner of both EMI Music Publishing and Sony/ATV.
In May Katherine went to court to try to stop the sale of her son’s catalog, as Finurah previously reported. She has been adamant, filing a motion to stop the business deal from happening. Her filing was sealed by the court.
