Fortunate: Michael Jr, 17, who goes by 'Prince' (Top), Paris, 16 (Left), and 12-year-old Prince, who goes by 'Blanket' reportedly split $8 million a year from their late father's estate.
Michael Jackson's three teenage children are afforded a reported yearly allowance of $8 million - owing to school tuition, regular vacations and major spending sprees - as the pop legend's fortune continues to generate revenue and increase in royalties, five years after his death.
Since the singer died of drug intoxication in 2009 - when he was said to be $500 million in debt - his estate has ballooned to an estimated $1.5 billion, a portion of that from the 50 million albums that have sold post-posthumously.
A new report says his children- Prince Michael Jr (Prince), 17, Paris, 16, and Prince Michael Jr II (Blanket), 12 - are enjoying their burgeoning inheritance, now that the Jackson family settlement dispute seems to have cooled, but are nowhere near as extravagant at spending as their father was.
According to The New York Post, citing numerous family sources, the kids' 'pocket money' has gone up from $5 million a year to $8 million on the the back of the estate's growing profits.
Home: Katherine Jackson rents this mansion in Calabasas, California, for $26,5000 to live in with her three grandchildren
Part of that amount is the $15,000 to $20,000 they get per month in 'walking around money'.
The six-figure sum is split between the three and accounts for everything from their schooling to bodyguards, vacations and shopping sprees.
When each child turns 40, they will inherit a share of the entire estate.
Matriarch Katherine Jackson is afforded $1 million a year to be her grandchildren's guardian, outside of the $26,500-a-month mansion she rents for them to live in Calabasas, California.
The Post reported Paris' yearly tuition is $30,000, on top of the expense of sending her to the therapeutic Diamond Head boarding school in Utah following her suicide attempt last year.
At school the 16-year-old buys presents for her friends such as footwear and athletic gear, the newspaper said.
Michael Jr - who goes by Prince - has spent over $50,000 buying jewelry for three different girlfriends.
The 17-year-old also bought a $40,000 Ford pickup truck.
Prince, 12 - who goes by Blanket - enjoys $200-an-hour karate lessons as well as a personal trainer.
He likes to take his friends out to dinner and then see a movie, costing about $500.
The children take three vacations a year.
Each costs about $350,000 inclusive of bodyguards, chauffeurs and first-class airfares, as well as extra people, such as their cousins, coming along.
In Hawaii they go to the Kahala Hotel and Resort in Honolulu and stay in the Signature Suite, which costs $5,500 a night.
In Las Vegas they stay in the penthouse at the Bellagio, which costs $4,000 to $5,000 each night.
The Post reported that the room service charges, also accounting for the concierge and health club, can be just as expensive as the cost of the room itself.
The newspaper said Jackson would often take the children there himself for a break, and on one day in 2002 he ran out of his line credit at the hotel after purchasing Rolex watches, Barbie dolls and artwork.
He then reached into a bag and gave his two kids - then just four and three - $20,000 cash and told the nanny to 'take them out and buy them whatever they wanted'.
'They're not as bad as their father,' one source told The Post.
Hawaii: Of the three vacations the children are believed to take each year, they enjoy staying here at the Kahala Resort and Hotel in Honolulu
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