THE TOP-EARNING DEAD CELEBRITIES

Nobody can extend the financial life of the dead and famous better than Jamie Salter.

From Michael Jackson to Marilyn Monroe, these late celebs still haul in millions each year.

Plus: Jamie Salter, super-agent to the deceased.

THE TIMES SQUARE HEADQUARTERS of Authentic Brands is a very glamorous graveyard. A black-and-white photo of Marilyn Monroe hangs above the front desk. On a wall opposite, Elvis Presley sings and signs autographs in an

endlessly looping video. Nearby, a pair of Muhammad Ali’s gilded boxing gloves glimmer alongside red-and-black Michael Jackson “Thriller” socks.

Marilyn, Elvis, Ali, Michael: They’re four of the world’s topearning dead celebrities, pulling in a combined $509 million last year. And their estates are all represented, in full or in part, by Authentic Brands Group, the creation of Jamie Salter.

“There’s not a lot of the estates in this sort of icon business exploiting these assets correctly,” says Salter, 55. Most are owned by family members who can’t all agree or who have little business experience. “They live off the music or off certain parts of the assets. They’re not building them into long-term brands. I think it’s not that they wouldn’t; they just don’t know how.”

Before focusing on celebrities, Salter concentrated on reviving decayed brands such as Airwalk shoes and Aeropostale clothing, building Authentic Brands up to an estimated $400 million in revenue.

He purchased 80% of the Monroe estate in 2012 for a reported $20 million to $30 million before slashing its 300 licensing deals—from T-shirts to refrigerator magnets— down to 80. Then he built the business back up, purchasing the other 20% of the estate and increasing the number of licenses to the sweet spot of 100, focusing on venerable brands that Monroe actually used in life—like Chanel No. 5.

“You can sell X amount of Marilyn Monroe fragrance at a mass-market retailer, or you can do a deal with Chanel No. 5,” says Salter. “A No. 5 deal doesn’t pay as well, but I think that’s important for the brand because it gives a halo effect. And the truth of the matter is, she wore Chanel No. 5.”