Days after the music icon Prince passed away, the world has learned that his empire was struggling. Behind closed doors, it was reported that his business empire was collapsing. According to TMZ, his family and lawyers are now left with the responsibility to clean things up.
According to TMZ's sources, the rock singer often liked to replace his team of business advisers if he didn't feel what they're telling him. TMZ was told that Prince lacked high powered attorneys with the kind of experience needed to sort out business affairs, and handle a music catalog like his.
Now, with the Purple Prince in purple heaven, his sister takes on the role to rebuild his empire. Tyka Nelson has been calling the shots regarding his label, music rights and the $300 million fortune. However, Independent has it that Prince's sister does not have the business savvy to control and inherit his multi million fortune. Currently handling his estate, Tyka could be in line to inherit his fortune and hidden selection of unreleased material.
Under Minnesota law, his estate could go to his 55-year-old sister unless he left a will stipulating otherwise because she is his closest living relative. Prince's first manager, Owen Husney, said he "prayed" the iconic singer's legacy had been left "in good hands" in the aftermath of his shock death on Thursday.
Husney says, "I'm sure Tyka is a great person. 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 250 to 500 million dollars."
While his family and lawyers are busy ironing things out, a post-mortem examination has been carried out on Prince's body however a cause of death may not be released for weeks
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