American singer, songwriter, and pianist Aretha Louise Franklin was born in Detroit. Rolling Stone twice named the “Queen of Soul” as the greatest singer and the ninth-greatest musician of all time, and she is known as such. Franklin is one of the best-selling musicians in the world, with over 75 million recordings sold worldwide.
Aretha Franklin Net Worth
At the time of her passing in 2018, American singer, songwriter, and musician Aretha Franklin had a net worth of $10 million. That sum excludes the value of her likeness, song catalog, and royalty stream as well as intellectual property values.
Aretha received between $3 and $4 million year in royalties in the years following her death, according to court documents filed in a dispute over her inheritance. Her true net worth upon death would most likely be closer to $50–$80 million due to the value of her library and royalties earned.
The total value of her assets was estimated to be $4.1 million, with the majority of them consisting of cash and real estate and a modest $1 million value assigned to her intellectual property, as we go into more depth in the following portion of this article.
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Aretha Franklin’s Career
With Columbia Records, where she started her professional career in the 1960s, she had some measure of success. Franklin’s career had a sea change in 1967 when she switched to Atlantic Records and released the ground-breaking single “Respect.” The song, which makes an intense case for equality and dignity, became a cornerstone of the civil rights and women’s rights movements.
Franklin created a generation of soul music and influenced other musicians with her voice, which was distinguished by its strong range and emotional depth. She amassed 18 Grammy Awards thanks to classics like “Chain of Fools,” “Think,” “I Say a Little Prayer,” and “A Natural Woman,” including the first eight for best female R&B vocal performance.
She has 112 singles on the charts, with 17 of them reaching the top 10. She had 21 #1 singles on the R&B charts. The most successful female artist in Billboard history, she. 18 Grammy Awards were earned by Aretha over her career. She gave a rendition of “My Country ‘Tis of Thee” during Barack Obama’s inauguration.
With 73 tracks, Aretha had already surpassed all other female artists in the Hot 100 song chart. When “Break It to Me Gently” became her 54th entry on the Hot 100 list, she initially held the top spot on June 18, 1977, surpassing Connie Francis’ 53 career performances.
Nicki Minaj beat Aretha’s record in May 2017. Now, Nicki has 76. For sentimental reasons if nothing else, one may look at the fact that while Franklin is the only artist credited on all 73 of her songs that reached the Hot 100 lists, Minaj is just a featured artist on 44 of them as a potential caveat for Nicki breaking Aretha’s record.
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Estate Conflict Between Aretha Franklin’s Two Sons After Her Death
According to reports, Aretha passed away without leaving a will. She did not, at the very least, possess a formal, typewritten will. She signed a form in 2010 that allegedly nominated her son Ted as the executor of the will.
A handwritten document that was purportedly from 2014 that was discovered in 2019—one year after Ted’s passing—apparently wiped out Ted’s name and placed her son Kecalf as executor. According to reports, this second document was discovered inside of a couch.
The conflict continued until a trial began in July 2023.
The jury has verdicted that the handwritten will that was found under sofa is legal:
PONTIAC, Mich. (AP) — Michigan jury finds handwritten document found in singer Aretha Franklin’s couch is a valid will. pic.twitter.com/xZ2WQnyrzw
— philip lewis (@Phil_Lewis_) July 11, 2023
According to documents given throughout the years by attorneys handling the estate, the total value of Aretha’s assets at the time of her passing was $4.1 million. That sum did not, however, cover the total worth of her income stream and catalog and only contained a pitiful $1 million for intellectual property.
Documents also revealed that Aretha owed the IRS between $5 and $8 million at the time of her death. $8 million is made up of $6.3 million in overdue taxes and an additional $1.5 million in penalties.
David Bennett, an attorney for the estate, stated that they are contesting the IRS’s allegations and that the singer had already paid off the great majority of her federal bills before her passing: “The Estate is diligently working to resolve any remaining issues.”
She possessed a sizable collection of real estate, stocks, and other assets. She also possessed uncashed cheques totaling more than $1 million. She had $988,656.17 in uncashed checks in her possession at the time of her death, according to court records. $702,711.90 in total was given by Sound Exchange and the Screen Writers Guild.
The remainder, which came through her publishing company Springtime Publishing, EMI, BMI, Carlin Music, and Feel Good Films, came to a total of $285,944.27.
Her attorneys filed a motion to sell these assets in May 2019.
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