Prince's sister could inherit his entire $800 million estate

By Samantha Luiz
25 April 2016

Following the death of music icon Prince, his 55-year-old sister Tyka Nelson stands a chance to inherit his entire estate, a vast fortune estimated at $800 million.

Following the death of music icon Prince, his 55-year-old sister Tyka Nelson stands a chance to inherit his entire estate, a vast fortune estimated at $800 million (R11,6 billion).

According to Minnesota law, the deceased's estate goes to the following in this order: "grandchildren, parents, brothers and sisters, or more distant relatives if there are no closer ones."

Since the legendary singer was twice-divorced with no children, his estate would go to his only full sibling Tyka.

He shared a son with his ex-wife Mayte Garcia, but he died one week after birth due to Pfeiffer syndrome, a rare genetic disorder that affects the skull and bones in the hands and feet.

Read more: ‘He’s with our son now’: Prince’s ex-wife’s heartbreaking tribute to the man she’ll ‘love eternally’

Also a singer, Tyka is a former drug addict who has previously spoken out about her drug addiction.

“I was a single mother and my boys were babies. I sold my body for food, money and Pampers. I pawned the car Prince had given me and sold the kids' TV for drugs," she said in 2003, referring to her sons Sir and President.

She also admitted how this had created a difficult relationship between the two siblings.

"I love my brother. But I’m not a yo-yo. He can’t just keep spinning me in and out of his life."

However, the siblings became close again in recent years.

In light of the news that Prince's sister could inherit his vast fortune, the icon's former manager Owen Husney has come forward, saying Tyka is not "business savvy" to handle his estate, a fortune that could grow exponentially if his unreleased music is put on the market.

Currently, Prince's estate includes a $300 million (R4, 3 billion) estimated net worth and $500 million (R7, 2 billion) in back catalogue.

Read more: ‘He was there when I really needed somebody’: Mariah Carey fights back tears as she pays tribute to Prince

"I'm sure Tyka is a great person," he told the Press Association. "I would be remiss to think she has the music business savvy to be able to handle a body of work that's got to be worth $250m-$500m."

"Prince's music has never really appeared in commercials. God forbid someone gets hold of this thing and it winds up in some toothpaste commercial. I pray that he has left it in good hands with people who know what they're doing."

Sources: telegraph.co.uk, independent.co.uk

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