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Forbes’ list of top-earning deceased musicians for 2014 came out recently and the amounts of money being earned by their estates is stunning. Here are the results of this year’s list:
Michael Jackson’s estate came in first at $140 million.
Elvis Presley’s estate takes second at $55 million.
Finishing in third is Bob Marley at $20 million.
John Lennon’s estate comes in fourth with $12 million.
Runners up include George Harrison, Tupac Shakur, Richard Rogers, Frank Sinatra and Jimi Hendrix.
See Zack O’Malley Greenburg, The Top-Earning Dead Musicians of 2014, Forbes, Oct. 31, 2014. http://www.forbes.com/sites/zackomalleygreenburg/2014/10/31/the-top-earning-dead-musicians-of-2014/
Rolling Stones frontman, Mick Jagger, was diagnosed with acute traumatic stress disorder in the wake of long time companion L’Wren Scott’s death. When he became depressed after Ms. Scott hung herself, he was told by a doctor not to perform for one month. The Stones were subsequently forced to postpone the Australia and New Zealand part of their world tour. The Rolling Stones had taken out a £15million policy to cover the costs if they were forced to cancel dates on their tour, as they were here. Yet now the underwriters claim that because Miss Scott committed suicide, they do not have to pay out. The insurers argue that Miss Scott’s death was not “sudden and unforeseen” or “beyond her control,” and the Stones do not qualify for a payout.
Recently the insurers filed a lawsuit in New York’s Federal Court, and subpoenaed the executor of Scott’s will, the New York City medical examiner, and Ms. Scott’s assistant, in an attempt to gain access to any emails or messages about any attempts at or references to self harm by Miss Scott, in addition to information about her general mental health. Sounds like this could be an ugly battle. But perhaps it will lead to a good blues song.
Thanks to the Wills, Trusts & Estates Prof Blog for pointing this out.