Tuesday, March 29, 2011
I previously blogged about Elizabeth Taylor’s fortune here and here. She requested that her jewelry collection, valued at over $150 million, be auctioned off to benefit the Elizabeth Taylor AIDS Foundation and amfAR. She split the rest of her fortune between her four children and other charities.
The money she made during her life isn’t causing any problems, but friction is already arising between family, charities, and business managers over the money she will make after death. Elizabeth Arden will continue to sell White Diamonds (which made $77 million last year), and the estate will also profit from film re-releases and other merchandising. Much like Elvis and Michael Jackson, Taylor failed to understand and plan for money made after death.
See Rob Shuter, The Fight Begins Over Elizabeth Taylor’s Fortune, Pop Eater, Mar. 28, 2011.