Prince’s former addict sister ‘may inherit his wealth’ as she says goodbye to him at low-key $1,645 service

96050330_Tyka_Nelson-696x506Prince’s former addict sister ‘may inherit his wealth’ as she says goodbye to him at low-key $1,645 service.

The singer’s net worth was estimated at $300 million but in death he is set to join a group of artists whose music makes huge sums of money for their estates.

Since his death in 2009 Michael Jackson’s estate has generated more than $1 billion.

Owen Husney, who was Prince’s first manager and now teaches a music business course at the University of California, Los Angeles, put the potential value of his back catalogue at well over $500 million.

That factored in not just song sales but licensing rights to film, television, advertisements and video games which Prince avoided during his lifetime.

Prince was one of relatively few recording artists to have possessed ownership of his master recordings and his own music publishing.

He had an extensive cache of unheard recordings, possibly up to 2,000 songs, locked away in a vault at Paisley Park, his home just outside Minneapolis.

 

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