Katherine Jackson Net Worth
Katherine Jackson has an estimated net worth of $100 million. Katherine Jackson is best known for being the mother of international pop superstar Michael Jackson and the rest of the famous Jackson family. The majority of her wealth is attributed to the money and properties she inherited from Michael Jackson.
Katherine Jackson is best known as the matriarch of the famous Jackson family. She and her husband, Joseph Jackson, had ten children together. She encouraged her children’s musical abilities, and when Jackie, Jermaine, Marlon, Michael, and Tito formed the Jackson 5, she served as costume designer. Katherine supported her most famous son, Michael, through his success and difficulties. She became the legal guardian of Michael’s three children, Paris Michael Katherine, Michael Joseph “Prince” Jr., and Prince Michael “Blanket” II, after his death in June 2009.
To calculate the net worth of Katherine Jackson, subtract all her liabilities from her total assets. Investments, savings, cash deposits, and any equity she has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$100 Million|
|Monthly Salary:||$100 Thousand|
|Annual Income:||$2 Million|
|Source of Wealth:||Michael Jackson‘s Estate|
Katherine Esther Jackson was born on May 4, 1930, in Barbour County, Alabama, as Kattie B. Screws. Katherine, the daughter of Martha Mattie Upshaw and Prince Albert Screws, was born with polio.
While she eventually recovered, the disease left her with a limp for the rest of her life. She moved to East Chicago, Indiana, with her family when she was four years old, and her name was changed to Katherine Esther Scruse (her father decided to rename her in conjunction with changing his surname to “Scruse”).
Scruse first met Joseph when she was a teenager. When the two first met, Joseph was a boxer and aspiring musician who was married. The couple married in November 1949, after Joseph divorced his first wife. They relocated to Gary, Indiana, and had ten children over the next 16 years.
Katherine was a stay-at-home mom while her husband worked as a crane operator at US Steel. Katherine, a devout Jehovah’s Witness, raised her children in her faith and with strict discipline. She was a pianist and singer who encouraged the musical talents of her family. Her son, Michael, would later attribute his vocal abilities to his mother.
Shaping the Jackson 5
Joseph devoted himself to molding his children’s various musical abilities soon after noticing their various musical abilities. The Jackson 5 was formed in 1964 by sons Jackie, Jermaine, Marlon, Michael, and Tito. As their fame grew, the group appeared in talent shows and as opening acts across the country, including at the renowned Apollo Theater in Harlem, New York, where they won an amateur-night competition in 1967. Katherine served as the group’s designer during this time, frequently creating suits and costumes for her sons to wear during their performances.
Katherine Jackson took a back seat in the Jackson 5’s affairs after they signed with Motown Records in 1968, but she remained a supportive mother. As her son, Michael, rose to fame as a solo artist, she supported him through his highs and lows, from his success with the album Thriller to his 2005 battle with child molestation charges. She remained a supportive wife despite her husband’s public indiscretions with women. Despite several rough patches in their relationship, they are still together and live in a mansion in Encino, California.
Death of Michael Jackson
Katherine was thrust into the public eye in June 2009, when Michael died in his Los Angeles home from cardiac arrest caused by acute propofol intoxication. Michael’s mother was named as the guardian of his three children in a copy of his will. She was also named as one of the estimated $500 million fortune of the pop star.
An official coroner’s report on Michael’s death was released in February 2010, revealing that the singer died from acute propofol intoxication. The overdose, along with a lethal prescription drug cocktail that included the pain reliever Demerol, as well as lorazepam, midazolam, benzodiazepine, diazepine, and ephedrine, reportedly worked together to shut down the star’s weakened heart. Michael had used the drugs to help him sleep at night, with the assistance of his personal physician, Dr. Conrad Murray.
Dr. Murray’s actions while caring for Michael were scrutinized further after a police investigation revealed that he was not licensed to prescribe most controlled drugs in California. Murray was charged with involuntary manslaughter after the singer’s death was ruled a homicide. Murray was convicted on November 7, 2011. He was later sentenced to four years in prison.
Jackson Family Drama
Katherine was thrust back into the public eye in July 2012 after a bizarre incident in which a family member reported her missing. While it was quickly discovered that Katherine had traveled to Arizona to spend time with family, a judge suspended Katherine as Michael’s children’s guardian just a few days later. TJ Jackson, Tito’s son, was appointed temporary guardian of Paris, Prince, and Blanket on July 25, 2012, stating that he was suspending Katherine’s guardianship because she had been gone and out of communication with the children for ten days.
Before Katherine’s location could be confirmed, speculation about her whereabouts grew, with Paris, Prince, and Blanket concerned that other family members were preventing them from communicating with their grandmother. Katherine’s “disappearance” came shortly after a disagreement between her and several members of the Jackson clan, including singer Janet Jackson, who questioned the validity of Michael’s will, pointing fingers at the Jackson matriarch and calling for the executors of his estate to resign.
A judge restored Katherine as the primary guardian of Paris, Prince, and Blanket on August 2, 2012, while also approving a plan granting TJ co-guardianship of the children.
In late 2012, the Jackson family was embroiled in yet another legal battle. The Jacksons decided to sue AEG Live, the company that promoted Michael’s planned comeback series, “This Is It,” in 2009, believing that the company had failed to effectively protect the singer while he was in Murray’s care and was thus liable for his death. Katherine and her grandchildren officially filed a wrongful death lawsuit against A.E.G.
Katherine was represented in court by attorney Brian Panish, and the trial began on April 29, 2013. “They wanted to be number one at any cost,” Panish said in his opening statements on the first day of the trial. “We’re not looking for sympathy; we’re looking for the truth and the justice.” Lawyers sought up to $1.5 billion in damages in the case — an estimate of what Michael Jackson could have earned in the months since his death if he had been alive — but in October 2013, a jury determined that A.E.G. was not responsible for Michael’s death. “While Michael Jackson’s death was a terrible tragedy, it was not the fault of A.E.G. Live,” said A.E.G.’s lawyer, Marvin S. Putnam.
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