Prince’s Estate Is Worth $156.4 Million — Here’s How His Assets Will Be Distributed
The final worth of Prince's estate has at last been determined.
Prince's estate is valued at a whopping $156.4 million. It took more than half a decade to determine the final value of the late star's estate and his assets could be distributed as early as next month.
Parties to the legendary musician's estate have been negotiating the value of the estate for almost six years. The final value is nearly twice as much as what the estate's administrator, Comerica Bank & Trust, initially estimated at $82.3 million. The Internal Revenue Service originally valued the estate at $163.2 million, according to the Star Tribune.
Prince's estate will be split nearly even between three of the artist's siblings, as well as music company Primary Wave. The process of distributing the $156.4 million in various assets could start as early as February.
The musician did not have a will when he passed away.
Prince died at the age of 57 in April 2016. The musician was found unresponsive in an elevator at his private Paisley Park estate. His cause of death was reported as a fentanyl overdose. A toxicology report following an autopsy revealed exceedingly high levels of the substance in his body.
Prince was a highly accomplished musician and multi-talented entertainer. According to Just Jared, he was nominated for 32 Grammys and 12 MTV Video Music Awards; won an Academy Award for his film Purple Rain; and took home a Golden Globe for his song "Move From the Heart," as featured in the movie Happy Feet.
Prince released 16 Platinum-certified albums. He was inducted into the Rock & Rock Hall of Fame in 2004.