For the second year in a row, Michael Jackson has topped Forbes magazine‘s list of top-earning dead celebrities.

The King of Pop, who died two years ago at the age of 50, brought in $170 million for his estate over the past 12 months, enough to place him ahead of every other pop music act of the past year — both living and dead — except for Irish rock band U2.

Elvis came in second place, earning $55 million, thanks to his songbook and a hit Las Vegas stage production featuring his tunes mounted by Cirque de Soleil.

The red and black leather jacket worn by Michael Jackson in his “Thriller” video went under the hammer for $1.8 million on Sunday.

The jacket has “Love Michael Jackson” written on the sleeve, and a dedication in the lining to his long-time costume designers, to whom he gave it.

The buyer was identified as Milton Verret, a commodities trader from Austin Texas, who plans to have the jacket tour and be displayed at children’s hospitals around the globe to raise money for their children’s charities.

The iconic black and red jacket worn by Michael Jackson in his “Thriller” video is to go under the hammer at a two-day Music Icons Exhibition in Beverly Hills.

The jacket is among 600 items that will go on sale at Julien’s Auction Gallery, including memorabilia from musicians such as The Beatles, Madonna and Lady Gaga, Frank Sinatra, Elvis and Justin Bieber on June 25 and 26.

The calf leather jacket became the prototype for future costumes for the pop musician. The jacket includes an inscription by Jackson on the inside lining.

Macau’s Ponte 16 casino will display next year ten pieces of iconic Michael Jackson memorabilia, including the cream leather rhinestone glove he wore for his first Moonwalk performance on television.

Michael Jackson’s glove was sold to Hoffman Ma, deputy chief executive of the casino, at New York’s Julien’s Auctions at a whopping US$350,000.

“We’re a bit surprised that we were able to acquire the glove, as there’s a high demand for it among bidders.”

According to showbiz411, Michael Jackson’s funeral costs $1 million dollars. This is the second funeral, the first one was the Staples Center memorial in Los Angeles, on July 6.

A 1984 portrait by Andy Warhol of the late singer Michael Jackson will go on display at London’s O2 arena before being sold at auction in New York.

The artwork was commissioned by TIME Magazine to celebrate the record sales of Jackson’s album Thriller

Since the death of Jackson and since Warhol passed long ago, the portrait is causing fans and art investors to drool over the possibility of owning this piece of art.