Prince Rogers Nelson, otherwise known as Prince, was an admired singer, songwriter, musician, dancer, and actor. His innovative music and lyrics took the world by storm, and to this day, he is viewed as one of the greatest American musicians. He passed away in 2016 by an accidental fentanyl overdose, leaving behind his massive estate and assets worth millions.
Prince died without having a written will, which in turn meant having his million-dollar case become more complicated and had to be taken to court. In 2017, a judge ruled that Prince’s six siblings were to inherit his $200 million estate.
Due to the expensive nature of Prince’s assets, many appeals were brought up to argue the heirs of his estate. Claims filed earlier by people who believed should be given his estate were rejected, so the appeals had been pending for quite some time. Over 45 people filed claims, including those who were claiming to be Prince’s wife, children, siblings, and other relatives.
This made the overcall case more difficult, as the assets could not be distributed without a court order and without the previous claims being settled.
Prince’s Success and His Assets
Just as any successful musician, Prince was able to build his own empire and create a brand worth millions of dollars. As a music legend, his fortune was estimated to be around $150-$300 million, but the number is still disputed to this day. From his extremely valuable music and lyrics to the rights to use his image commercially, Prince owned assets that were nothing short of extremely expensive.
Prince had owned multiple homes in his life and invested money in real estate, which in turn only grew his net worth. Below is a video featuring one of his villas next to the Mediterranean sea.
Although spending most of his time in Los Angeles, California, Prince only owned one home in Beverly Hills. He sold it in 1997 for $2.2 million, but it was recently sold by the owner for over $5.5 million.
Prince sold over 100 million albums across the globe, earned seven Grammys, a Golden Globe, and even an Oscar. He spent his money on materialistic things such as a private jet, clothes, and houses, but he also donated an estimated $1.5 million to charity and even sometimes performed gigs for free. Prince had been named a “Secret Philanthropist”, according to Rolling Stones magazine.
Prince’s Siblings
Prince had a very complicated family life and his relationship with family members was not typical nor simple. He only had one full sibling, Tyka Nelson, and the other half brothers and sisters. His siblings were said to have been “on and off” with their famous brother and were never really in the public eye.
His parents met in 1956 when both of them had children from previous marriages. They stayed together for 10 years, before eventually divorcing and having more children with other partners.
This complicated things for Prince, as multiple claimants started stepping forward saying that they were related to the famous musician. Due to having many siblings and a confusing family tree, it was hard for authorities to understand who was related and who was not. DNA testing was done to confirm the matter on multiple occasions.
With Prince’s help, Tyka Nelson, or Prince’s only full sibling, also started to release music after battling drug addiction for years. She was the only sibling that Prince was close to, and when asked, Tyka never knew about Prince’s will due to his unexpected death.
Since his death, Tyka has taken the lead in settling Prince’s court case. She had previously sued those who claimed to be his siblings when they were not listed as relatives on paper.
Prince had a tumultuous relationship with his siblings as mentioned previously, and the court did take it into account. His siblings that are not deceased either reside in suburban houses owned by Prince or they have not commented on his death.
The Current Sibling Dilemma & Inheritance
In 2020, the dilemma over the icon’s fortune continued. Three of Prince’s siblings filed legal paperwork and claimed that while the other siblings got paid, they have not yet received their compensation, three years later.
His siblings were getting older, and with legal fees being brought up once again, his estate being valued less and the IRS claiming his net worth was less than originally thought, the clock was ticking and the situation was not getting any less complicated.
The Minnesota judge denied the siblings’ request to limit the bank’s power over administering the music icon’s estate. One of his siblings involved in the dispute in 2020, Sharon Nelson, publicly stated that the bank’s unnecessary power over administering the inheritance from Prince’s estate has only resulted in millions of dollars in legal fees. It has been predicted that “Prince’s estate will turn bankrupt”.
It is safe to say that having a large family with siblings you were not close to only complicates matters when dealing with a fortune. Prince’s assets are yet to be fully distributed, and the legal matters have not been totally concluded.