Court filings suggest Prince's estate is worth £160 million

Prince’s estate is worth about 200 million dollars (£160 million), new court papers suggest.

It is the first time a specific estimate has emerged publicly from court proceedings following Prince’s death from an accidental drug overdose in April.

Since he left no known will, the rock superstar’s sister and five half-siblings are in line to inherit equal shares of the estate — after the taxman takes about half of it.

By comparison, David Bowie’s estate was worth about 100 million dollars (£80 million) when he died in January, according to his will.

Shortly after Prince’s death, when officials were beginning to place a value on his musical catalogue, unreleased music, the Paisley Park studio complex and other assets, one lawyer for the company overseeing the estate, Bremer Trust, said it could be worth somewhere between 100 million and 300 million dollars.

Lawyers have avoided giving specific figures in public since then, but based on a court filing made public this week, Bremer Trust puts the value of the estate at about 200 million dollars, The Associated Press has calculated.

That figure is based on a memo that mentioned the company’s fee as 90,000 dollars per month, which works out at 1.08 million dollars per year.

Considering the Bremer Trust uses a fee schedule based on the value of an estate, AP calculated that the annual fee works out to an estate worth 200 million dollars.

Two estate law experts not connected with the Prince case who reviewed the documents agreed with that conclusion, AP said.

The estates of some other dead rock superstars continue to generate huge sums of money. Forbes magazine’s annual list of top-earning dead celebrities for 2016 showed Michael Jackson’s estate collected 825 million dollars, Elvis Presley’s earned 27 million dollars and Bowie’s took in 10.5 million dollars.

Prince’s estate took in 25 million dollars and sold more albums than any other dead musician to earn fifth spot on the list.

More in this Section

Russell Crowe confirms his house was hit by wildfires in AustraliaRussell Crowe confirms his house was hit by wildfires in Australia

Star Wars’ Daisy Ridley tells of ‘scary’ stalker incidentStar Wars’ Daisy Ridley tells of ‘scary’ stalker incident

Chris Hughes breaks down in tears over Jesy Nelson trolling ordealChris Hughes breaks down in tears over Jesy Nelson trolling ordeal

Hollywood, brace yourself! Ricky Gervais to return as Golden Globes hostHollywood, brace yourself! Ricky Gervais to return as Golden Globes host


Lifestyle

The Cosmetify Index reveals the cosmetics companies that are generating the most buzz online – and Dubai-based Huda Kattan has the top spot.Huda Beauty tops the 10 ‘most popular’ beauty brands this year

Read the script of Kya deLongchamps’ kitchen-sink drama to set the scene to make an informed choice when selecting this home essentialTake the plunge: Read this checklist before you splash out on your new kitchen sink

WHAT do aerospace engineering and baking have in common? A lot, says scientist and Bake-Off finalist Andrew Smyth, one of the presenters of the family show Baking in Space.The Shape I'm In: Andrew Smyth - Bake-Off finalist

It would be foolish to discount all evergreen plants when seeking autumn variety, says Peter Dowdall.Showing their true colours: Don't discount all evergreen plants when seeking autumn variety

More From The Irish Examiner