Michael Jackson Named Top-Earning Dead Celebrity

More than a year after his death, Michael Jackson continues to bring in bank earning himself the title of Forbes' Top-Earning Dead Celebrity. The King of Pop raked in a reported $275 million dollars beating out the combined income of 12 other dead celebrities and moving up from third place last year when his estate earned $90 million. A large chunk of Jackson's earning comes from a posthumous $200 million record deal with Sony for the film 'This Is It.'

Jackson beat out Elvis Presley who came in second place with $60 million. Presley's revenue comes from tickets sales to his Graceland mansion -- now a museum and tourist attraction in Memphis, Tenn., and honorary Las Vegas Cirque du Soleil show.

"Jackson's spot atop our top earning dead celebrities list should come as no surprise given the renewed fan interest in music, videos and all things Michael Jackson," said Forbes writer Lacey Rose.

Jackson suffered a fatal cardiac arrest on June 25, 2009. He was rushed from his Hollywood Hills home, to nearby UCLA Medical Center where he was pronounced dead. Ironically, the house in which Jackson was staying at the time of his death is across the street from a former home of Presley, who suffered a similar fate in 1977.