The late Michael Jackson's estate has made billions since the singer died in 2009. Photo / Getty Images

The late Michael Jackson has made an eye-watering income since his death in 2009.

The Thriller hitmaker died in June 2009 but according to recently audited records, posthumous business dealings have brought in an average of US$360 million (NZ$582m) a year, equating to more than $2 billion ($3.2b) since he died.

The paperwork confirmed Sony bought the Billie Jean singer's 10 per cent lifetime rights to the EMY catalogue for $287.5m ($465.3m) and he earned more than $72m ($116.5m) from separate work deals.

In the years after his death, Jackson's account was about $500m ($809.3m) in debt, but now the net value of his property, cash accounts and overall earnings are $888,279,305 ($1,437,810,632.20)

And a note stated: "In excess of [$150, 000, 000] ($242,797,050) of gross receipts was received between January 1, 2019 and December 31 2021."

A lawyer for the estate praised executors John Branca and John McClain for their work restructuring the financial arrangements of the late singer, who is survived by children Prince, 25, Paris, 24, and Bigi, 20.

Lawyer Jeryll S Cohen noted: "The executors have been able to create exceptional and unique opportunities that did not exist at the time of Michael Jackson's death to generate substantial revenues and enhance the image and legacy of Michael Jackson for the benefit of the beneficiaries of Michael's trust.

"As of December 31, 2021, the estate generated gross earnings exceeding two billion dollars."

He went on to add the executors have entered "unprecedented business deals" and "solidified the MJJ business as a significant entity in the entertainment industry".

The pair were also praised for providing "uninterrupted support" for the Bad hitmaker's family as the documents, which have been signed off by a judge in Los Angeles, show all the family homes, mortgages, expenses of the three children and Michael's mother Katherine have been covered fully.