Making It (Purple) Rain! Prince’s $156M estate is finally settled in probate court six years after the music legend died without a will… as fortunes are split among family members
- Independent music publisher Primary Wave receives 50% of the assets
- The remaining 50% will be divided between the Prince’s half-sisters Sharon L. Nelson and Norrin Nelson, as well as two of his advisers.
- Two groups of heirs will now convert his holdings into limited liability companies
The $156 million estate of the late great Prince Rogers Nelson was finally settled in Minnesota probate court on Monday – six years after he died without a will.
The seven-time Grammy winner had a total of eight siblings, but four of them have passed away – Lorna (2006), Duane (2011), Alfred (2019), and John (on September 3),
Prince’s sister Tyka Nelson, 62, and half-brother Omar Baker, 52, both sold their shares to independent music publisher, Primary Wave, which received 50% of the assets.
‘Prince is now almost free to rest’: The late great Prince Rogers Nelson’s $156M estate finally settled in Minnesota probate court on Monday – six years after he died without a doubt (pictured in 1985)
The Purple One’s 80-year-old half-sister Sharon L. Nelson and 75-year-old half-sister Norrin Nelson, as well as their mentors L. Londel McMillan and Charles Spicer, will share the other 50% of the property.
Prince’s assets will be ‘distributed $6M in cash and at times through music rights and other intangibles,’ according to Board,
The two camps of heirs will now convert his holdings into limited liability companies, and work together to create a management plan for and manage the music and other jointly held assets.
‘We will miss you, Johnny!’ The seven-time Grammy winner had a total of eight siblings, but four of them passed away – Lorna (2006), Duane (2011), Alfred (2019), and John (on September 3)
‘We look forward to a strong and productive working relationship’: Prince’s sister Tyka Nelson, 62, and half-brother Omar Baker, 52, both sold their shares to independent music publisher, Primary Wave, which received 50% of the property
Heirs: The Purple One’s 80-year-old half-sister Sharon L. Nelson (L) and 75-year-old half-sister Norrin Nelson (R), as well as her mentor L. Londell McMillan and Charles Spicer will share the other. 50% of the assets (pictured with half-brother Omar Baker in 2017)
Consultant L. ‘We’re relieved and thrilled to be with the probate court system and bankers who don’t know the music business and don’t know Prince,’ Londell McMillan told Billboard via email.
‘I represented Prince for over 13 years and we’ve pioneered innovation in improving the music industry – we share their amazing wealth and catalog with their music, film content, performances, merchandise, Paisley Park events, branded products even more. This is a historic and very exciting time. The prince is now almost free to rest.’
The Oscar-winning songwriter died at the age of 57 from an accidental fentanyl overdose in 2016 after selling more than 120 million albums worldwide.
‘We are relieved and thrilled’: Prince’s wealth to be distributed through ‘$6M in cash and at times in music rights and other intangibles’ (pictured 2004)
One more step! The two camps of heirs will now convert his holdings into limited liability companies, and work together to create and create a management plan for the music and other jointly held assets (pictured in 2007).
Final concert: Oscar-winning songwriter died of an accidental fentanyl overdose in 2016 at the age of 57, after selling more than 120 million albums worldwide (pictured in 2016)
The Prince Estate has released three posthumous albums – Piano and a Microphone 1983 (2018), Original (2019), and Welcome 2 America (2021).
Fans can catch up on more from the Rock and Roll Hall of Famer at Prince: The Immersive Experience, which runs through October 9 in Chicago.
Paisley Park, Prince’s beloved 65K-square-foot campus in Minnesota, is also open to the public.
Recorded in 2010: The Prince’s Estate has released three posthumous albums – Piano and a Microphone 1983 (2018), Original (2019), and Welcome 2 America (2021).
Tickets range $39.50-$66.50! Fans can catch up on more from the Rock and Roll Hall of Famer at Prince: The Immersive Experience, which runs through October 9 in Chicago (pictured May 12)
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