The world is still in mourning as questions arise…
Epic Times reports:
Prince, the late musical genius who died on Thursday, has left behind a huge financial legacy – but mystery surrounds who will get it.
The Grammy Award-winning pop icon, who died at his Paisley Park mansion in Minneapolis at age 57, is believed to be worth almost $1 billion – but he left no heirs.
One theory making the rounds is that Prince, who was a Jehova’s Witness, may have left his fortune to the movement.
Both of his parents are deceased, although several half-siblings and one full-blooded sister, Tyka Nelson, survive him.
The woman who stands to receive $800 million from Prince’s death: Purple-haired, former crack-addict prostitute sister is set to inherit the singer’s estate in absence of a will — along with (his) catalog of unreleased music.
CBS says there is no chance Prince that Prince didn’t leave a will
Whatever happens to his estate, it’s clear that Prince took great pains to ensure total control over his career, including his financial dealings.
The INTERNATIONAL BUSINESS TIMES is sure the Jehova’s Witness will get a piece
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 that church.
If Prince didn’t make a will, the inheritance will be determined by a probate court. Under Minnesota law, the estate first falls to grandchildren, then parents and siblings.
Prince has an approximate net worth of $300 million. But that does not include his music catalog, which is believed to be worth more than $500 million.
Unlike many other recording artists, he owned both his master recordings and his own music publishing.
And his estate is set to make millions in the coming weeks from the increased sale of merchandise, music and the money the singer received when he signed a deal agreeing to stream all his music on Tidal.
The star also owns a massive vault of more than 20,000 tracks which could be released at a later date, swelling the coffers even more.
This collection of unreleased music is thought to include an album he made with late jazz great Miles Davis.
All this swirling of dollars is certain to raise questions about what will happen to Prince’s financial legacy. However, Prince was a shrewd businessman and it seems unlikely – given the meticulous attention he paid to his music and his business empire – that he wouldn’t leave a will.