Prince estate settled at $156.4M

The Minneapolis Star Tribune reports that parties to the pop superstar’s estate have placed the value at $156.4 million, dwarfing the $82.3 million appraisal by the estate’s administrator, Comerica Bank & Trust.

The Internal Revenue Service in 2020 had valued the estate at $163.2 million.

Settlement of the probate case means the process of distributing the star musician’s wealth could begin in February.

“It has been a long six years,” L. Londell McMillan, an attorney for three of Prince’s siblings said at hearing Friday in Carver County District Court.

Prince died of a fentanyl overdose in 2016. He did not leave a will. The estate will be almost evenly divided between Primary Wave, a well-funded New York music company, and the three oldest of Prince’s six heirs or their families.

Two of Prince’s six sibling heirs, Alfred Jackson and John R. Nelson, have since died. Two others are in their 80s.