Prince's $156 million estate has finally reached a settlement

Saint Paul, Minnesota - The estate of the artist formerly known as Prince was finally settled on Monday, after a heated six-year legal battle.

The estate worth millions of the legendary singer Prince, who left behind no children, spouse, or will, has finally been settled after a six-year court battle.
The estate worth millions of the legendary singer Prince, who left behind no children, spouse, or will, has finally been settled after a six-year court battle.  © BERTRAND GUAY V AFP

In April 2016, Prince, born Prince Roger Nelson, died from an accidental fentanyl overdose at the age of 57, leaving behind no children or spouse, and an estate worth $156 million.

The Purple Rain singer didn't leave a will behind, either, which led to a process called probate where the court decides how to disperse the assets of a deceased person. Through this process, Prince's six half-siblings were deemed legal heirs.

According to court documents obtained by CNN, the Minnesota First Judicial District has decided to have the estate split evenly between two companies - Prince Legacy LLC and Prince OAT Holdings LLC.

Prince Legacy LLC has interests once held by three of his half-siblings - Sharon, John, and Noreen Nelson. Prince OAT, owned by music company Primary Wave, has interests once held by Tyka Nelson, Omarr Baker, and Alfred Jackson.

Comerica Bank & Trust, the institution handling the affair, is also expected to receive $3 million.

Primary Wave told Billboard that they also acquired "additional expectancy interests in the estate" last year, and plan to "protect and grow Prince’s incomparable legacy."

Cover photo: BERTRAND GUAY V AFP

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