Michael Jackson’s kids are spending $8 million a year

Prince Paris Jackson

It’s good to be the King…of Pop’s kids…as Prince and Paris Jackson reportedly get an “allowance” of $8 million a a year. They used to only get $5 million a year, but you know, they have more shit to buy now.

According to the Post this money isn’t just going to waste either…

Among the expenses: Prince’s $30,000 yearly tuition at a private school and the six-figure yearly payout to house, educate and treat Paris at a therapeutic boarding school in Utah following her 2013 suicide attempt.

Prince, who’s already shown himself a ladies man, has showered more than $50,000 in custom-made jewelry and other gifts on at least three different girlfriends, a family insider said. That’s $10,000 more than he plunked down for a new Ford pickup truck.

Three vacations a year to destinations including Hawaii and Vegas annually set the kids back about $350,000 — after payments for bodyguards, relatives tagging along, chauffeurs, first-class airfare and plenty of luxuries.

In Hawaii, the family usually surfs the secluded beach and roams the Kahala Hotel & Resort in Honolulu. They relax in the $5,500-per-night Signature Suite.

See? Nothing your typical teen doesn’t spend their allowance on…

Related: Aaron Paul once did shots with Michael Jackson at a Prince of Brunei birthday party

The kids also often stay at the Penthouse Suite at the Bellagio in Vegas ($4 to $5K a night). Again, pretty standard for your average teen. Paris buys gifts for her friends, Prince pays $200 an hour for karate lessons and more for a personal trainer, and takes his cousins out to dinner at around $500 a pop.

The best part?

Jackson family members reportedly say that the kids, who usually have $15 to $20K in “walking around” money, are a lot more frugal with their money than their dad Michael was with his dough.

Damn. Was I born to the wrong family. Then again

Related: Dr. Conrad Murray says he held Michael Jackson’s penis ‘every night’

Michael Jackson’s kids get $8M a year allowance [Post]

Paris and Prince Jackson image by Helga Esteb/Shutterstock