The children of Michael Jackson are definitely not ordinary kids. With the King of Pop as a father, Prince, 18, Paris, 16 and Blanket, 13, are said to have a living expense of $4.3 million a year.
According to BANG Showbiz, the amount was revealed in a court document filed by the lawyers of the late superstar. It outlined the expenses of the kids, which included rental payments for their house in Calabasas, California at $34,000 a month and school fees for $75,000 at Buckley, a private school in Sherman Oaks.
Blanket, who now goes by the name of Bigi, had a $935 birthday bash when he turned 11 years old while about $428,000 was spent during the kid's trip to Hawaii with Debbie Rowe, their biological mother. The children also enjoy being charted via private plane for $140,000 and paid $470,000 the staff that worked in the properties their father owned.
The expenses for the kids may be downright shocking and extravagant for many people, but because of Michael Jackson's many hits, they are apparently well-taken cared for.
Michael, who unexpectedly died at 50 years old due to cardiac arrest in 2009, had an asset value of $250 million. However, his actual fortune may amount to over $1.5 billion, according to the news outlet. The children will stand to inherit their father's vast fortune equally once they reach the right age, according to the Examiner.
The court documents supposedly outlined that by age 33, the kids will receive the first half of their inheritance while the rest will be given to them when they are 40 years old.
The children currently have Katherine, Michael's 85-year-old mother, as their official guardian. She, too, has benefited from her son's fortune as her home in Hayvenhurst was renovated for $595,000. The property is now part of Michael's estate, according to The Sun.
The only daughter, Paris, has reportedly dropped from Buckley to continue studying at a school for "young performers," The Sun report stated.
Meanwhile, Radar Online reported that Blanket decided to change his name to Bigi "before entering Buckley because he hated getting bullied and made fun of because his name was Blanket," a source told the news outlet.
"Growing up, his schoolmates have always been slightly mean to him because of their jealousy over who he is and going by Blanket made him a much easier target for ridicule," the source added.
Prince, the eldest, has already graduated from high school last May, according to US Weekly. "When they announced his name, the whole Jackson family stood up and cheered and whistled," an observer noted.
