The battle over Prince’s $156 million fortune ends after 6 years

The battle is over PrinceThe $156 million estate finally ended six years after the music legend’s death.

A Minnesota judge on Monday split the late icon’s cash, music rights and other assets equally between two holding companies, Prince Legacy LLC, controlled by three cousins ​​and a group of their advisers, and Prince Oat Holdings LLC, controlled by three others. cousins ​​and music label Primary Wave, according to People.

Prince, who died of a fentanyl overdose in 2016. had not written a will and his half-brothers and sisters were named as legal heirs because he had no children and no spouse, according to Billboard..

L. Londell McMillan, one of two advisers who control an “undisclosed stake” in the estate and partner with Prince Legacy LLC, said the deal would open the door to a wave of Prince-branded ventures, including his famous Paisley Park home. outside of Minneapolis.

Prince performs in 2007. Super Bowl in Miami at halftime.

AP Photo/Alex Brandon via Associated Press.

“I’ve represented Prince for over 13 years and we’ve led the way in reforming the music industry through innovation – we hope to do the same with his amazing assets and catalogue, from his music, film content, exhibits, merchandise, to Paisly Park.” [sic] events, branded products and more”, e-mail McMillan said in an email to Billboard. “This is a historic and very exciting time. The prince is now almost free to rest.

Throughout his life, Prince kept a tight grip on his music and image.

In a statement to Primary Wave, Billboard said the company is “very pleased” that the estate’s closure is “now complete.”

“Prince was an iconic superstar and this transfer from the court’s jurisdiction provides professional, skilled management,” said a spokesman for the publisher.

“When we announced last year that we had acquired additional prospective assets that increased our ownership to 50 percent, our goal was to protect and grow Prince’s unparalleled legacy,” Primary Wave said. “When distributing real estate, we expect a strong and productive working relationship.

Leave a Comment