Renowned for his electrifying presence and a four-octave vocal range, Freddie Mercury, the iconic frontman of the classic rock band Queen, amassed a net worth of approximately $50 million by the time of his demise in 1991, as disclosed by Celebrity Net Worth (adjusted for inflation).
This sum was double what Mercury had earned during his lifetime, with a significant portion tied up in real estate and other non-liquid assets.
Despite the substantial wealth, Mercury, who had neither children nor a legal spouse, faced the crucial question of who would inherit his fortune.
Diagnosed with HIV in 1987, a terminal illness at the time, as reported by Men’s Health, Mercury chose to keep his health condition private until shortly before his death.
The stigma surrounding HIV/AIDS during the ’80s prompted him to maintain confidentiality, despite tabloid speculations about his declining appearance.
During the period between his diagnosis and demise, Mercury had ample time to determine the rightful recipient of his wealth. For him, the answer was unequivocal.
Freddie Mercury Inheritance Plan
He Left Half To His Family
In 1991, Freddie Mercury’s passing prompted the distribution of his wealth in a specific manner.
As reported by Ultimate Classic Rock, a quarter of his net worth and future earnings from Queen were bequeathed to his parents, Bomi and Jer Bulsara, who had both passed away before the release of the lucrative movie “Bohemian Rhapsody.
Another quarter was designated for his sister, Kashmira Bulsara. Born Farrokh Bulsara in 1946 on the island of Zanzibar, Mercury, according to Biography, had a sole sibling.
Notably, the continuous growth of income from Mercury’s contributions to Queen is sustained by the band’s ongoing tours and new music releases.
The influence of the band extends to new generations through mediums like the immensely successful film “Bohemian Rhapsody,” which grossed over $900 million, as per NME.
With American Idol finalist Adam Lambert now fronting the band, the legacy persists (reported by Smooth Radio).
Upon the deaths of Mercury’s parents, the third individual designated by Freddie Mercury to inherit half of his wealth emerged.
This beneficiary, who received a substantial sum initially, experienced a further increase in wealth, surpassing the original generous amount. Mercury had intricately planned this aspect of his legacy.
His Common-Law Wife
Freddie Mercury allocated half of his fortune to Mary Austin upon his death, recognizing her as his common-law wife.
Despite Mercury’s eventual acceptance and embrace of his sexuality, he and Austin were previously engaged and cohabitated for several years.
Even after Mercury came out to her, their bond remained strong.
Their relationship began in 1969, predating the formation of Queen, and endured through fame, success, Mercury’s illness, and until his final days.
Austin served as his most trusted confidant, maintaining their unique connection for over two decades.
Mary Austin is the sole individual aware of the location of Mercury’s ashes, in accordance with his wishes, as reported by Biography.
Mercury once expressed, “All my lovers asked me why they couldn’t replace Mary, but it’s simply impossible.
The only friend I’ve got is Mary, and I don’t want anybody else. To me, she was my common-law wife.
To me, it was a marriage.” Despite Austin’s attempts to alter Mercury’s perspective, he insisted, “If things had been different, you would have been my wife, and this would have been yours anyway,” as conveyed by Hello! Magazine.
Read more: Can Adopted Children Inherit From Biological Parents?
Austin Now Earns 75 Percent Of What Freddie Mercury is Worth
Mercury’s commitment to Mary Austin is further underscored by his explicit instructions in his will.
He designated that upon the passing of his parents, Mary Austin, as depicted above, would inherit their portion.
Consequently, Austin now possesses 75% of Mercury’s estate, while the remaining 25% continues to benefit his sister.
This financial arrangement is particularly noteworthy, as continuous revenue flows in.
The New Zealand Herald reported that Austin received $75 million in royalties from the 2018 Mercury biopic, “Bohemian Rhapsody.”
Additionally, Mercury bequeathed his London residence to Austin, as reported by Express.
According to Hello! Magazine, the estimated value of the property is approximately £25 million, equivalent to around $33 million.
Austin, who currently resides in Mercury’s home, expressed her reluctance to alter it, stating to Hello! Magazine, “Why would I want to change it? It is his taste and style. It’s beautiful. His presence is everywhere.”
In addition to Austin, Freddie Mercury also allocated around £500,000 to several friends and his then-lover Jim Hutton.
Adjusted for inflation, this sum amounts to approximately $650,000 today, according to Hello! Magazine.
T Bag, J.D., LL.M. Professor of Law and Mediation Expert in Family and Siblings Property Disputes
Education:
- J.D., Conflict Resolution and Mediation, Harvard Law School
- LL.M., Estate Planning and Family Law, Yale Law School
Experience:
- Over 15 years of experience mediating complex family property disputes, including estate conflicts and business succession issues.
- Extensive background in facilitating negotiations between siblings and other family members to preserve relationships and family wealth.
- Recognized authority on the legal and psychological aspects of property disputes among family members.
Publications:
- “Mediating Family Property and Estate Conflicts: Keeping the Peace and Preserving Family Wealth” – A comprehensive guide on the advantages of mediation over litigation in family disputes.
- “Negotiating Principles of Entitlement in Sibling Property Disputes” – An analysis of entitlement principles applied in sibling conflicts over property.
Professional Affiliations:
- Member of the American Bar Association, Section of Dispute Resolution
- Fellow at the Center for the Study of Dispute Resolution, University of Missouri
Awards:
- Recipient of the Excellence in Mediation Award from the National Mediation Conference
- Honored with the Distinguished Mediator Award by the International Mediation Institute
Teaching:
- Professor of Law at the University of California, Berkeley, teaching courses on family law, estate planning, and conflict resolution.
- Guest lecturer at various law schools across the USA, sharing insights on mediating family property disputes.
Consulting:
- Provides expert consulting services to law firms and families on matters related to inheritance, property rights, and intergenerational wealth transfer.
- Advises on creating legal frameworks that minimize conflict and promote fair resolution in family property disputes.
Philosophy:
- Believes in the power of mediation to resolve conflicts while maintaining family harmony and protecting privacy.
- Advocates for creative and compassionate solutions that address the underlying emotional dynamics of family disputes.
Contact Information:
- Email: tbag@usamediationexpert.edu
- Office: Department of Law, University of California, Berkeley