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Aretha Franklin
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James Brown was a musical legend — but his failure to engage in estate planning prior to his passing away left his family in financial turmoil. As AfroTech previously reported, the “Mother Popcorn” singer had an estate that was estimated to be worth more than $100 million. But when he died in 2006, his will was nothing if not vague. According to Smithsonian Magazine, the Godfather of Soul merely made provisions for the value of his estate to be designated for scholarships for children in need. Given how James Brown grew up — in a small wood cabin in the rural town of Elko, SC — it would make sense that he’d want nothing but the best for those who may be like him. But needless to say, his will was contested almost immediately after his passing thanks to his complicated legacy. And, after a costly 15-year battle, his heirs finally sold the value of his estate for $90 million to Primary Wave Music. This settlement, however, is not without its issues. “For the past 15 years, several...
The estate of the legendary Aretha Franklin is finally done with the Internal Revenue Service (IRS). According to USA Today, the outstanding $7.8 million debt has officially been paid in full. This is a huge win for Franklin’s four sons who inherited her estate following her passing in 2018. Now, they will be able to reap the benefits from all revenue being brought in from her estate which, per a report, could be millions of dollars. Access to the affairs of Franklin’s estate has been an uphill battle due to IRS being in the picture. Any money being drawn in from her music, and even recent projects like the “Respect” biopic, was never seen by her children. Instead, it was placed into the hands of the government. AfroTech has previously reported on how messy things can get once a celebrity has passed and even noted the years-long process it often takes before families can see a dime of the money. Prince, James Brown, and even “Black Panther” star Chadwick Boseman all had estate...
When it comes to the Queen of Soul, no one could ever depose Aretha Franklin. Her contributions to the music industry — and, indeed, to pop culture — cannot be overstated. She stands as one of the best-selling musicians of all time, with 75 million albums sold to date and climbing. And according to Celebrity Net Worth, her likeness, music streams, and catalog have a total net worth of $80 million and climbing. The death of Aretha Franklin left a hole in the world of pop culture that will never be filled. On Aug. 16, 2018, she passed away at the age of 76-years-old, having succumbed to her battle with pancreatic cancer. Fortunately, however, her legacy lives on. She has four sons — all of whom are in the entertainment industry, and who have very successful careers of their own. Throughout her life, Aretha Franklin encouraged her sons’ careers — and even had them perform with her on more than one occasion. And now, her grandchildren are carrying on her legacy with music careers of...