Prince was renowned for owning the majority of his creations, most crucially his publishing rights, also known as the copyrights of his songs. Prince had no will when he passed away. Six adults in his family received the value of his estate (one of whom, a half-brother, died in 2019).
The worth of the Prince’s estate was fiercely contested in the years after his passing. Comerica Bank & Trust, the estate’s administrator, provided an estimate of $82.3 million as the total value of Prince’s assets, which includes real estate, music licensing, name and likeness rights, and other items.
In January 2021, the Internal Revenue Service claimed that Prince’s estate had been significantly undervalued and should have been valued at more like $163.2 million.
His estate received a notice of delinquency from the IRS in June 2020, asking for an additional $32.4 million in delinquent taxes from the 2016 tax year as well as an additional $6.4 million in “accuracy-related penalties.” Both Comerica and Prince’s estate requested a trial to settle the dispute.
In January 2022, the IRS and the executor of Prince’s estate came to an agreement that the estate was worth $156.4 million.
What was Prince’s net worth at the time of death?
When he passed away in April 2016, Prince was a well-known singer, songwriter, musician, and actor in the United States. His estimated net worth was between $200 and $300 million. The value of his likeness rights and other intellectual property, such as his music copyrights, has a significant impact on the range of his net worth.
