section_path: Earnings
section_name: Earnings
paragraph_text: Earnings
  
  In 1989, Jackson's annual earnings from album sales, endorsements, and concerts were estimated at $125 million. Forbes placed Jackson's annual income at $35 million in 1996 and $20 million in 1997. Jackson has been one of the wealthiest musical artists; estimates of Jackson's net worth during his life range from negative $285 million to positive $350 million for 2002, 2003 and 2007. Forbes reported in August 2018 that Jackson's total career pretax earnings in life and death were $4.2 billion. Sales of his recordings through Sony's music unit earned him an estimated $300 million in royalties. He may have earned another $400 million from concerts, music publishing (including his share of the Beatles catalog), endorsements, merchandising and music videos.
  
  In 2013, the executors of Jackson's estate filed a petition in the United States Tax Court as a result of a dispute with the Internal Revenue Service (IRS) over US federal estate taxes. The executors claimed that it was worth about $7 million, while the IRS that it was worth over $1.1 billion. In February 2014, the IRS reported that Jackson's estate owed $702 million; $505 million in taxes, and $197 million in penalties. A trial was held from February 6 to 24, 2017. In 2021, the Tax Court issued a ruling in favor of the estate, ruling that the estate's total combined value of the estate was $111.5 million and that the value of Jackson's name and likeness was $4 million (not the $61 million estimated by the IRS's outside expert witness).
  
  In 2016, Forbes estimated annual gross earnings by the Jackson Estate at $825 million, the largest ever recorded for a celebrity, mostly due to the sale of the Sony/ATV catalog. In 2018, the figure was $400 million. It was the eighth year since his death that Jackson's annual earnings were reported to be over $100 million, thus bringing Jackson's postmortem total to $2.4 billion. Forbes has consistently recognized Jackson as one of the top-earning dead celebrities since his death, and placed him at the top spot from 2013 to 2023.