Artist News Legal

Prince hoarded property and gold, estate inventory shows

By | Published on Monday 9 January 2017

Prince

An inventory of assets owned by Prince prior to his death last year has been submitted to the court overseeing the administration of the musician’s estate. As well as more than $25 million in property, it shows that he had stashed away 67 gold bars, worth $840,000.

The full value of Prince’s estate is yet to be established, according to the Star Tribune, with a number of personal items, plus other assets such as copyrights and trademarks, still to be valued. With estimations of between $100 million and $300 million for the final figure, it appears that these could make up the bulk of the final total.

As well as the real estate and gold, Prince had around $110,000 in cash deposited in four bank accounts at the time of his death, while his four companies, Paisley Park Enterprises Inc., NPG Records Inc, NPG Music Publishing and LotusFlow3r, collectively have around $6 million in the bank. NPG Records is also said to be owed a further $6.8 million.

The next hearing in relation to the estate is due this Thursday, at which it is expected that a decision with regards heirs will be announced. As previously reported, with no will in place when Prince died, numerous people have come forward to claim that they are due a cut of his wealth. The court has been working for several months to ascertain the legitimacy of each claim.



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