Los Angeles Times
Clues to Prince’s worth
Prince’s estate is worth about $200 million, a new court filing suggests.
It’s the first time a specific estimate has emerged publicly from court proceedings following Prince’s April overdose death.
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 taxes gobble up about half of it. By comparison, David Bowie’s estate was worth about $100 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 catalog, 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.
Attorneys 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, the Associated Press has calculated.
That figure is based on a memo that mentioned that the company’s fee, which is based on the value of an estate, was $90,000 per month — about $1.08 million per year. The AP calculated that the annual fee works out to an estate worth $200 million. Two estate law experts not connected with the Prince case who reviewed the documents agreed with that conclusion.
It’s possible the value will rise or fall. The final total won’t be determined until after more appraisals and taxing authorities decide what they think the estate is worth.