Does anyone remember their allowance when they were a child? It was probably $20 or $30 a week, right? Even if it was more than that, the money you received from your parents for doing chores and the like was nowhere near $1 million. Several reports have indicated that the Jackson kids receive $8 million a year in allowance.
According to the New York Post,
“On a hot, lazy Las Vegas day, Michael Jackson’s eyes were glued to a catalog as he shopped from his hotel room for mundane but expensive trinkets such as Rolex watches, Barbie dolls and artwork.
The 2002 shopping spree continued until Jacko exhausted his line of credit with the hotel. Frustrated, he reached in a duffel bag and handed his 4- and 3-year-old kids a stack of bills totaling $20,000 and ordered their nanny to ‘take them out and buy them whatever they wanted.’
He said, ‘Go out and entertain yourselves,’ recalled former pal Marc Schaffel, who’s poised to marry the late singer’s ex-wife Debbie Rowe later this year.
Today, five years after Jacko’s death, the spending spree continues, with his three kids — now 17, 16 and 12 — enjoying a whopping $8 million allowance a year.”
Although much of that $8 million is reportedly used for schooling and bodyguards, protection doesn’t come cheap, some of the money is used on pleasure. According to media, Prince spent $100,000 on a new Ford pickup truck, and Blanket enjoys karate lessons at $200 per hour. All three of the Jackson kids- Paris, Blanket, and Prince- are given around $20,000 annually in “chump change.” Now that’s a large allowance!