Accounts reveal George Michael paid himself millions in final two years
George Michael performs during the closing ceremony of the 2012 London Olympic Games (LEON NEAL/AFP/Getty)
George Michael paid himself almost £10 million in the two years before his death, according to newly published accounts.
In the year before his sudden death on Christmas Day 2016, the singer took a £4.38million dividend from his company, Nobby’s Hobbies Holdings.
The previous year he took £5.6 million from the same company.
The sums gave the star a huge income of £13,700 for every day of his final two years.
The huge sums come despite being a virtual recluse during his final years.
He generated millions in royalty earnings from around the world, with company accounts indicating his back catalogue will continue to generate vast sums for his estate.
The new figures come after the account son his main company, Nobby’s Hobbies Holdings, published its 2016 earnings.
(Getty)
The company took a profit of £3 million, which coupled with profits from the previous year allowed George to make the large withdrawals.
The sum is a small part of his overall estate, which is estimated at more than £100 million.
What happens to that estate remains an ongoing debate, as his last boyfriend, Fadi Fawaz, is allegedly in line to claim his Regent’s Park home in London.
Fadi Fawaz, 44, a fine art dealer, dated the Wham! performer until his death age 53 on Christmas Day 2016.
According to The Sun they now fear the move would harm relations – leading Fadi to pen a tell-all book.
The family are considering handing over the home along with a retainer of £250,000 a year to keep his silence – a small figure from the estate annual earnings, judging by the new figures.
A source told The Sun: “George’s relatives decided a good option is to keep Fadi happy by offering him the house.
“They want him to agree to it and keep quiet about George’s death.”
Earlier this year Andros Georgia, a childhood friend of George, claimed a revealing biography of the couple’s relationship was on the cards.
British singer George Michael (Photo MIGUEL MEDINA/AFP/GettyImages)
Georgiou, 54, told the Sun on Sunday: “Fadi is now seeking a significant pay-out of George’s money, and his attempt has come out of the blue.
“This is not something his family ever imagined they would have to deal with.
“But Fadi has made no secret of how much he wants money.
“It has not gone unnoticed that he has been touting around for a book deal and has spoken to several publishers, who have made offers.
“But while he was expecting to make a million pounds, he’s probably looking at £50,000.
“That is not going to keep up the lavish life he lived alongside George for very long – and I’m sure he can now see his comforts disappearing.”
Fadi has reportedly struggled for money since his other half passed away, writing online about his “hell” since the death.
Fadi penned an emotional poem telling of his struggle after revealing he was struggling to feed himself.
He has reportedly been embroiled in arguments ever since the singer’s death, but staunchly denies selling stories on his late boyfriend.
Fawaz wrote on twitter earlier this year: “Everything stopped and six months later the icon partner still struggles to buy milk and water six months later. That’s is the truth (sic).”
