Music Icon Prince's Curious Hoarding Habits Amassed Him An Estate With A Hundred-Million Value; Heirs Named Soon
Van DThe late Prince's estate is valued at about $300 million due to investments, assets and the hoarding of some curious items. The heirs of the "Purple Rain" singer are also set to be announced soon.
An asset inventory of Prince's estate submitted by Bremer Trust to the Carver County District Court in Minnesota showed that the artist acquired several properties amounting to about $25 million by the time of his death in 2016, including his studio, called the "Mythical Creative Sanctuary," and his home in Paisley Park. The documents also showed that his companies, Paisley Park Enterprises Inc., NPG Music Publishing, NPG Records Inc., and LotusFlow3r held over $6 million in cash on hand at the time of Prince's death. NPG Records allegedly has about $6.8 million in arbitration receivable.
Star Tribune revealed that Prince also owned 67 gold bars, each weighing 10 ounces and valued at around $840,000. The artist also collected other things, like jewelry, musical instruments, motorcycles, and furniture. He owned a 2006 Bentley and the famous Graffiti Bridge and Purple Rain motorcycles. A huge part of Prince's estate has not been valued yet, including his trademarks and copyrights. The inventory also listed about $110,000 in four bank accounts, capital credits and cash, and unclaimed property.
Billboard wrote that Prince died on Apr. 21, 2016 due to accidental overdose of the painkiller fentanyl. He was 57 years old. The singer, however, did not leave a will, which made his massive estate the subject of a pending probate court case that began a few days after he died.
Some of Prince's expected heirs include his sister Tyka Nelson, and his half-siblings Alfred Jackson, Omarr Baker, John Nelson, Sharon Nelson and Norrine Nelson. The next hearing in the probate case is scheduled for January 12, which will most likely determine Prince's heirs. Dozens of claims surfaced in the past several months, as alleged relatives attempt to have a stake in the late singer's huge estate.
Prince's estate is valued between $100 million and $300 million before taxes. About half will most likely go to taxes. More updates and details on Prince are expected soon.
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