Michael Jackson kids granted $8m annual income

London: Michael Jackson's children have been granted an annual income of 5 million pounds by a court overseeing their welfare, it has been revealed.

The late 50-year-old musician's kids Prince, 17, Paris, 16, and Blanket, 12 apparently get 2 million pounds for school fees, 180,000 pounds for holidays and 353,000 pounds for a security team, the Daily Star reported.

The kids have also been authorized to spend 120,000 pounds a year to rent a mansion and 9,000 pounds a month pocket money each.

Their grandmother Katherine pockets well over 700,000 pounds a year for looking after the kids.

The financials have been revealed after Paris and Prince's mother asked for the custody of the kids.

An insider asserted that if Debbie Rowe became the guardian, she would essentially walk into a 5-million-pounds-a-year lifestyle.