The King of Pop beats the tax authorities in court

How much do you think the image (or visually similar image) of The King of Pop, which remains the richest dead celebrity according to Forbes https://bit.ly/3hSUYoA and holds the 69-line list of the most popular artists of all time on Spotify https://bit.ly/3p2Fa4p?

It all began after the death of Michael Jackson and the payment of estate tax. The heirs removed the assessor who estimated everything at a huge $2,105, which was indicated in the tax statements. Tax authorities did not agree and made their estimate, according to which the value reached 434 million US dollars. The court faced a difficult task - to play for the "zero" or "go on a promotion", but they were not confused and invited alternative experts who considered their cost. The assessor of the heirs and the tax authorities made amendments to the preliminary calculations, presenting another alternative. In total, 5 alternative assessments were conducted, but the difference between the assessment of tax authorities and the judicial expert was $430 million. And all because of the inclusion of unforeseen benefits.

In other words, at the time of Jackson's death, and in his hands, these intangible assets were worth much less than what effective managers "turned" them into after his death.
And as a finale: the cost was - 4.1 million US dollars (it would be spectacular if the judge announced it making a moonwalk).

Read more about the decision on 271 page https://bit.ly/3fPc582

Analytics prepared by Anna Chebotareva, Head of Valuation Practice at A1 Consulting.