Prince did not have a will when he died of an opioid overdose in 2016, and what a staggering mess that created.
Through a six-year process, we’ve had a chance to find out the music icon had a whole lot of half-siblings who had their hands out to gobble up whatever they could of the singer’s $156 million estate.
In an incredibly complex process that has cost tens of millions of dollars in legal fees, the distribution of his assets is nearing completion. The three oldest half-siblings of Prince and their families get to share Prince’s hard-earned money with the music company called Primary Wave.
Prince has a couple of other family members who sold their stake of the estate to Primary Wave, which meant they had already cashed in their winning lottery ticket.
The final agreement of the settlement allowed $5,638,878.29 in cash payments to the brothers and sisters. Some of the money will remain as a reserve to ensure expenses and taxes get paid, and the remaining $100 million is tied up in the real estate, music publishing, and businesses Prince owned.
The family sees more dollar signs and future paydays with that, and they seem anxious for the money train to keep on moving.
Here’s a quote from his half-sister Sharon Nelson, who has moved up several tax brackets in the past few years.
“Prince can now rest in peace. We are free at last, thank God almighty, we are free; it’s been a long, long grueling six years.”
There are hundreds of unpublished tracks buried in Paisley Park in suburban Minneapolis, a veritable gold mine for the half-siblings standing in line for more payouts. Here’s more from the half sis.
“What’s the most important thing that you think about when you think of Prince? The music, absolutely, and where is it? It isn’t here, So we’re going to bring it back; that’s what we’re going to do. Once we have the music, they are going to get the real good sound that they should have had six years ago; We’re going to bring his original music out.”
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