- Prince’s sister Tyka Nelson, 55, will be awarded her brother’s estate if he did not leave behind a will
- Under Minnesota state law, the wealth of an unmarried individual with no children goes to their grandparents, parents and siblings
- Tyka is a former crack addict who turned to prostitution to support her two young sons before entering rehab and getting clean in 2003
- Prince’s net worth of $300million is expected to grow by millions over the next few weeks because of increased sales following his death
- Prince also signed a deal with Tidal granting them exclusive rights to stream his music last year for an undisclosed amount
- His catalog meanwhile is worth over $500million according to his manager Owen Husney since he owned his publishing and master recordings
The vast fortune accumulated by Prince over the course of his music career is likely to go to his only sister if the singer failed to leave behind a will.
Tyka Nelson, 55, will be awarded Prince’s estate under Minnesota state law as his closest living relative.
She and her brother were close in recent years after a difficult stretch in their relationship when Tyka was struggling with an addiction to crack cocaine and prostituting herself to support her two young sons, Sir Montece Laeil Nelson and President LenNard Laeil Nelson.
Prince has an approximate net worth of $300million, which does not include the millions his estate is set to make in the coming weeks from the increased sale of merchandise and music or the money the singer received when he signed a deal agreeing to stream all his music on Tidal.
His music catalog meanwhile is worth over $500million according to Prince’s first manager Owen Husney, due in large part to the fact that unlike other artists he owned both his master recordings as well as his own music publishing.
Prince also has a large collection of unreleased music, which Husney believes may include an album he made with jazz great Miles Davis
Next in line: Tyka is a former crack addict who turned to prostitution to support her two young sings before getting clean during a 2003 trip to rehab.
SOURCE: UK DAILYMAIL