Michael Jackson’s estate continues to grow in his absence, and his kids are all the better for it.
According to reports, the yearly allowance for his 3 kids, Prince, 17, Paris, 16, and Blanket, 12, has increased from $5million to $8million, thanks to the growth.
The 3 kids inherited their father’s wild spending antics, and the late singer’s friend, Marc Shaffel, dished out on how the kids spend their money.
–Prince has spent more than $50,000 on custom-made jewelry for three of his girlfriends, plus $40,000 on a new Ford pick-up truck. He wants to save enough money to buy back his father’s Neverland Ranch, currently in control of creditors with an asking price of $35 million.
–Paris also likes to buy gifts for friends, including shoes and athletic gear. The annual cost for her to stay at a therapeutic boarding school, following last year’s suicide attempt, is also in the six figures.
–Blanket likes to take his cousins to dinners at expensive restaurants; their nights out, which also include trips to the movies, typically come to about $500 plus tips. He also spends $200 an hour for karate lessons and a personal trainer.