Bob Marley: The True Story About Marley’s Fortune After His Demise
On 11th May 1981, the international icon Bob Marley bid a final goodbye to the world; after losing his battle with cancer Well-recognized stars and celebrities often consider preparing their last testament in the event of their death. However, Bob Marley had different thoughts; he didn’t prepare a will since it was not in alignment with his Rastafarian beliefs. During the time of his death, Bob’s estate was worth $11.5 million; in today’s money, that’s nearly about $34 million.
A Legal Battle that Continued for Years
Since the will was absent in the process, the entire decision related to the division of his estate depended on Jamaican laws. According to Jamaican regulations, 10% of the estate is immediately offered to the widow. Also, they get access to another 45% for the rest of their lives. The remaining amount is supposed to get divided among the children.
Marley had ties with Rita Marley, and he was the father to 11 children from seven other women. Even if the asset distribution seemed like a walk in the park, the legal battle was honestly not that seamless. Prior to dividing Marley’s estate, David Steinberg, his lawyer, got in touch with Rita Marley and asked her to forge Bob Marley’s signature. Unfortunately, the ruse was revealed, and Rita lost all the opportunity she could have grabbed as a trustee.
The Good Part about Marley’s Estate
After several years, the lengthy legal battle finally came to an end. House of Marley is now managed by his four children. The other siblings are board members. The estate currently earns money via several Marley-themed goods and products such as headphones, apparel, turntables, and speakers, not to mention royalties from his music.