Michael Jackson’s Kids Allowances Increased To $8million Per Year Following Estate Growth

Michael Jackson’s Kids Allowances Increased To $8million Per Year Following Estate Growth

Michael Jackson’s estate continues to grow in his absence, and his kids are all the better for it.

According to reports, the yearly allowance for his 3 kids, Prince, 17, Paris, 16, and Blanket, 12,  has increased from $5million to $8million, thanks to the growth. The 3 kids inherited their father’s wild spending antics, and the late singer’s friend, Marc Shaffel, dished out on how the kids spend their money.

Prince has spent more than $50,000 on custom-made jewelry for three of his girlfriends, plus $40,000 on a new Ford pick-up truck. He wants to save enough money to buy back his father’s Neverland Ranch, currently in control of creditors with an asking price of $35 million.

Paris also likes to buy gifts for friends, including shoes and athletic gear. The annual cost for her to stay at a therapeutic boarding school, following last year’s suicide attempt, is also in the six figures.

Blanket likes to take his cousins to dinners at expensive restaurants; their nights out, which also include trips to the movies, typically come to about $500 plus tips. He also spends $200 an hour for karate lessons and a personal trainer.