Michael Jackson Ranks As Richest Dead Celebrity

Late pop icon's estate brought in more than $275 million in 12 months, according to Forbes.

Michael Jackson

In life, Michael Jackson was forever dogged by rumors of financial struggles. But in death, the late pop icon has vaulted to the top of the list of celebrities whose estates generate millions. In fact, according to a new Forbes magazine list, Jackson is by far the richest dead celebrity, with an estate that brought in more than $275 million over the past 12 months.

Jackson's music and "This Is It" documentary have been so lucrative that he outearned the combined hauls of megastars Lady Gaga, Beyoncé, Madonna and Jay-Z. Not only that, but Jackson also outpaced the combined earnings of all of the other late celebs on the list.How did he do it? A combination of smart licensing deals cut by the executors of his estate, a huge spike in sales of the singer's catalog since his June 2009 death and, most important, the $250 million worldwide box-office receipts of the tour rehearsal film "This Is It," including a $60 million advance from Sony Pictures. Music sales alone brought in $50 million thanks to heavy radio play and album sales, along with receipts from a Jackson-themed video game and the re-release of his autobiography, "Moon Walk," which added another $50 million to the pile.