The Jacksons are already counting the billions they’re convinced they’ll get in their wrongful-death suit against concert promoter AEG Live.
Family sources said matriarch Katherine, 83, and her children, Rebbie, 63, Jermaine, 58, and Randy, 51, have been meeting regularly at a secret location in Beverly Hills to discuss how to divvy up the loot. Even superstar Janet, 48, attended a couple of the sessions.
The civil case — brought by Michael Jackson’s mother and three children, Prince, 16, Paris, 15, and Blanket, 11 — is expected to wrap next month.
They are seeking a jury award for as much as $40 billion. The money would be split four ways, with Katherine and Jacko’s kids receiving $10 billion each. Family members would divide Katherine’s haul, while the kids’ money would go into a trust.
“You’re still talking about each getting at least a billion,” an insider said. “A little less if Jackie, Tito, Marlon and Latoya decide they want a piece.”
Jackie, 62, Tito, 59, Marlon, 56, and Latoya, 57, have not attended the meetings and are believed to be uninterested in what some deride as “blood money.”
The family alleges AEG was negligent in hiring Jacko’s death doctor, Conrad Murray, for the singer’s “This is It” comeback tour in 2009. Murray, who administered a fatal dose of the potent drug propofol to Jacko, is serving a four-year prison term for manslaughter.
Last week, an accountant testified Jacko would have easily earned up to $1.5 billion had he lived, testimony that further boosted the family’s conviction they will hit the jackpot.
“I’m not sure [the family] sees it as counting their chickens before they are hatched,” a family member told The Post. “Anyone who has followed this trial can easily see AEG is liable. So, it stands to reason that the $1.5 billion . . . would be a starting point.
“The punitive damages are going to be billions more because, this is Michael. They killed the King of Pop,” the source said.
“Jermaine and Randy have the most ambitious plans, no doubt about it.”
Jermaine, who changed his surname earlier this year to “Jacksun,” wants to buy out the popular Ferrari World, a 2.1 million-square-foot theme park on Abu Dhabi’s Yas Island.
“Money talks, and you know what else walks,” Jermaine told a family member.
Randy, the clan’s youngest, has designs on restoring Michael’s Neverland estate., creating a music school at the desolate Santa Barbara County ranch, and bringing back the menagerie, including Bubbles, Jacko’s famous chimp chum.
“Randy plans to use his share of the money to fight the estate because he’s always been serious about what he feels are Michael’s wishes and Randy still believes unequivocally that Michael’s will is a fake and [executors] John Branca and John McClain should not be in charge,” another family source said.
Rebbie, whose husband died earlier this year, is said to simply want to purchase a condominium in Southern California and do some traveling.
“Rebbie needs to hit the re-set button,” the source said.
Despite a regular monthly allowance topping $30,000 from her son’s estate, Katherine is seeking her own cash to leave behind for her children and grandchildren, sources told The Post.
“She wants the other children to know that she fought for their well-being,” the source said.
Questions persist on whether the family can handle the windfall.
The Gloved One and his siblings made $40 million during the 1984 Victory tour, a sum that was supposed give Michael freedom from family leeches. Each brother was paid $8 million.
“Maybe the money they’ll make from this will set them up comfortably. Then, I’m out of it,” Jacko said at the time.
But that plan unraveled as the brothers purchased luxury autos and homes; lavished expensive gifts on multiple wives, mistresses and baby mamas; and made poor investments.
Jermaine married three times – not including an unrecognized wedding in 1999 inside an Encino mosque. He has 9 children. He eventually declared bankruptcy.
Randy married twice and has three children. Randy and Jermaine also took turns fathering children with the same woman, fashion designer Alejandra Oaziaza, who successfully sued both brothers for child and spousal support.
Jackie, also married twice, famously was injured after a spat with his first wife, Enid Jackson, over an alleged affair with Paula Abdul, who was the Victory tour’s choreographer and eventually became a judge on American Idol.
The fight led to a motorcycle accident that resulted in the singer breaking his leg, forcing him to miss most of the 1984 tour.
The poorly managed apartments fell into disrepair, tenants stopped paying rent, and the complex was sold at auction to pay taxes and liens.
“That should have set us up for a long time,” Jermaine once said. “Things just didn’t work out and we let it go,” he said.
In 1994, New Jersey businessman Henry Vaccarro won a $1.4 million judgment against the family.
In 1995, Jermaine declared bankruptcy, listing about $5 million in debt for state and federal tax liens.
By 1997, the family, excluding Michael, Janet and Latoya, filed for Chapter 11 protection, listing debts totaling $50 million.
In 1999, Katherine and Joseph Jackson jointly filed for Chapter 7 Bankruptcy. Their debts included $35,000 owed on a Mercedes, $60,000 on a Land Rover, and civil judgments of more than $22 million.
$32,000 owed to the California Franchise Tax Board, and $118,000 to the IRS.
In 2001, Randy pleaded guilty to bankruptcy fraud because he admittedly failed to list a sport utility vehicle in a previous 1996 bankruptcy filing.
“Everyone is saying this time is going to be different because they know that once this money comes in from AEG, this is really it,” the source said. “There are no more tours and there is no longer Michael.”
