celebrity radar - gossips

I.R.S. Admits Prince’s Estate Was Undervalued

Published

5 years ago

January 5, 2021

I.R.S. Admits Prince’s Estate Was Undervalued- The federal government is seeking nearly $39 million in taxes and fees based on a valuation of Prince’s assets that his estate disputes.

For almost five years, the estate of Prince has been one of the music industry’s most drawn-out and complex legal thickets, as the star’s heirs aligned in two factions and business conflicts developed over Prince’s storied “vault” of unreleased music.

Now the estate also has a problem with the I.R.S.

In filings with the U.S. Tax Court, it is clear that the estate and the federal government differ greatly on the value of many of Prince’s assets, including real estate, music rights and the value of Prince’s name and likeness. According to the Internal Revenue Service, the estate is worth $163.2 million — about double the $82.3 million claimed by Comerica Bank & Trust, the estate’s administrator.

The court filing includes a copy of the I.R.S.’s “notice of deficiency,” dated June 2020, which said that the estate owes an additional $32.4 million in federal taxes from 2016, as well as a $6.4 million “accuracy-related penalty.” Comerica has requested a trial in St. Paul, Minn., over the dispute.

Prince died at age 57 in April 2016, from an accidental overdose of an opioid painkiller. But while he was known for retaining ownership of much of his work, including his music publishing rights — the copyrights related to his songwriting — he left no will.

Much of the discrepancy in the valuations is related to Prince’s music rights. The estate had set the value of NPG Music Publishing, the collection of his songwriting copyrights, at $21.2 million; the IRS believes it is actually worth $36.9 million. The estate had also set the “writer’s share” of Prince’s songwriting rights at $11 million, but the I.R.S. believed that was worth $22 million.

And the I.R.S. values Prince’s ownership of his record label, NPG Records, at $46.5 million, not the $19.4 million claimed by the estate.

The papers also show that the estate and the I.R.S. differ on the value of various real estate properties that belonged to Prince, including some 149 acres in undeveloped land in Chanhassen, Minn., the suburb of Minneapolis where Prince maintained his studio and creative headquarters, called Paisley Park. According to the court filing, an independent appraiser had set the value of that land at $11 million, but the I.R.S. said its fair market value was really $15 million.

Representatives of Comerica, which has operated as the estate’s “personal representative,” a role similar to that of an executor, declined to comment on Monday.

The tax dispute is the latest complication in the estate, which has had a series of problems that have resulted in millions of dollars in fees to lawyers but a delay in payments to the six adult family members who are Prince’s heirs. (One of them, Alfred Jackson, a half brother to Prince, died in 2019.)

For example, a $31 million deal with Universal Music for rights to Prince’s “vault” — his trove of unreleased recordings — was rescinded by a judge, after Universal complained that a representative of the estate had misled them about exactly what rights were offered. (The deal later went to Sony, which has since released a number of albums.)

Alex Weingarten, a partner at the Venable law firm in Los Angeles, who often handles entertainment litigation and probate issues and is uninvolved in the Prince dispute, said that Prince’s case was unusual in that he had made no plan for his estate. But the dispute with the I.R.S., he said, was not unexpected.

“Whenever you’re dealing with estates of any significant size,” Mr. Weingarten said, “it’s not uncommon to have valuation disputes with the I.R.S.”

celebrity radar - gossips

Adron Homes Celebrates Visionary Chairman, Aare Adetola Emmanuel King, at 51

Published

2 days ago

April 2, 2026

Sahara Weekly

Adron Homes Celebrates Visionary Chairman, Aare Adetola Emmanuel King, at 51

The management and staff of Adron Homes and Properties Limited have joined family, friends, associates, and well-wishers across the globe to celebrate their Chairman and Chief Executive Officer, Aare Adetola EmmanuelKing, as he marks his 51st birthday.

In a statement released by the company, the milestone was described as a celebration of an exceptional leader whose vision, resilience, and entrepreneurial brilliance have not only transformed Adron Homes into a household name in Nigeria’s real estate sector but have also redefined affordable housing across the country.

Under his dynamic leadership, Adron Homes has continued to expand its footprint, delivering value-driven residential solutions while empowering thousands of Nigerians with opportunities for home ownership. His commitment to excellence, innovation, and customer satisfaction has remained the driving force behind the company’s sustained growth and industry leadership.

The statement further highlighted Aare EmmanuelKing’s passion for nation-building and community development, noting his significant contributions to job creation, youth empowerment, and the promotion of socio-economic development through real estate investments.

“As a leader, mentor, and visionary, Aare Adetola EmmanuelKing has consistently inspired a culture of excellence, integrity, and dedication within the organization. His ability to turn bold ideas into reality continues to position Adron Homes as a trailblazer in the industry,” the statement read.

The company expressed profound gratitude for his steadfast leadership and prayed for continued wisdom, strength, and sound health as he embarks on another year of impactful achievements.

As he celebrates his 51st birthday, the entire Adron Homes family proudly honours a man whose legacy continues to shape the future of real estate in Nigeria.

Happy 51st Birthday, Aare Adetola EmmanuelKing!

celebrity radar - gossips

Oba Ara Releases Emotional Tribute to Late Taiwo Adegbodu

Published

4 days ago

March 30, 2026

Sahara Weekly

Oba Ara Releases Emotional Tribute to Late Taiwo Adegbodu

Taofik Afolabi

The gospel music community continues to grieve the painful loss of Taiwo Adegbodu, a beloved figure whose sudden departure left a deep void among fans, colleagues, and loved ones. In response to this loss, renowned gospel minister Rotimi Onimole, popularly known as Oba Ara, has released a moving tribute song that captures both the sorrow of the moment and the enduring legacy of the late singer.

Oba Ara, a proud son of Isale Eko, channels raw emotion throughout the song, using heartfelt lyrics and soul-stirring melodies to reflect on his personal connection with Taiwo Adegbodu. In the tribute, he openly expresses how deeply the news of Adegbodu’s passing shook him, describing it as a painful and unexpected loss that is difficult to come to terms with.

The song goes beyond mourning, it celebrates the life, ministry, and impact of Taiwo Adegbodu. Oba Ara highlights the late artist’s dedication to spreading the gospel through music, his inspiring voice, and the spiritual influence he had on many within and beyond Nigeria. Through powerful verses, he paints a picture of a man who lived for God and touched countless lives through his ministry.

Listeners have described the tribute as both comforting and deeply emotional, as it resonates with the collective grief of the gospel music community. It serves as a reminder that although Taiwo Adegbodu is no longer physically present, his music, message, and legacy will continue to live on.

In honoring his late colleague, Oba Ara not only pays his respects but also offers a source of healing for fans and fellow ministers, using music as a tool to process grief and celebrate a life well lived.

celebrity radar - gossips

Buratai, Fagbemi , Shagaya, Olofa, Others Eulogise Olowu Kuta’s Olori On 60th Birthday, Foundation Launch

Published

5 days ago

March 30, 2026

Sahara Weekly

Buratai, Fagbemi , Shagaya, Olofa, Others Eulogise Olowu Kuta’s Olori On 60th Birthday, Foundation Launch

Eminent personalities across the Nigeria stormed the TFK Event Centre, Bala Mohammed Way, Guzape, Abuja, to celebrate the 60th birthday of Olowu Kuta’s Olori, Queen Jumai Amoke and her Foundation Launch on Saturday 28, March 2026.

From former Chief of Army Staff, Lt Gen TY Buratai rtd, to the Minister of Justice and Attorney-General of the Federation, Prince Lateef Fagbemi; Olofa of Offa, HRM Oba Mufutau Gbadamosi. Even top businesswoman and socialite, Chief (Mrs) Bola Shagaya, was in attendance.

Other dignitaries were newly promoted Deputy Inspector-General of Police and former AIG Zone 2 , Lagos , Adegoke Fayoade, Major General Abdumalik, Major General Samuel Adebayo rtd (Fmr CDI);

Major General Anthony Omozoje rtd (Fmr Copp);

Alhaji Tajudeen Owoyemi (Asiwaju of Offa and CEO Radisson Hotel Nigeria;

Dr Waheed Olagunju, former managing director of Bank of Industry, Oniba of Iba, Lagos State, HRM Oba Dr Suleiman Raji ;

Justice Falola, Olu of Ile-Ogbo , Oba Adetoyese amongst many traditional rulers and captains of industry too numerous to mention.

Speaking at the occasion, the Chief Host, Olowu of Kuta, HRM Oba Dr Adekunle Oyelude Makama, CON , Tegbosun iii, who is also the husband of the celebrant commended Queen Jumai for ‘ her slender arms full of kindness’ to establish such humanitarian Foundation, ‘Amoke Children and mother in Need Foundation’ at a time Nigerians are going through economic crisis occassioned by the global meltdown.

Olowu also commended her steadfastness and love for the less privileged and downtrodden.

The monarch refrenced the task before his wife’s humanitarian gesture said her best is yet to come.

” Olori Amoke Jumai, I celebrate you. You will celebrate 70, 80, 90 and continue to shine as you continue to put a smile on people’s faces. I love you, “Olowu Kuta added.

To Lt Gen Buratai, a former army chief and former Nigerian Ambassador to Benin Republic, the reward of hard work is more work.

Buratai, who also doubles as Balogun Agba of Owu Kuta, a chieftaincy title reserved for a generalismo congratulated Queen Jumai for attaining the age of 60 in good health.

The retired army General said he’s not surprised by the turn out of eminent personalities across the country to celebrate the Olowu Kuta’s Olori because she merited it through her hospitality to all, adding that Allah the most merciful, most beneficial would accept all her act of ibadah.

The minister of Justice, Prince Fagbemi, was full of praises for Queen Jumai for deeming it fit to have a place in her heart to accommodate the needy and less privileged in ‘our society.’

Prince Fagbemi urged the guests to contribute generously to support the Foundation in order to continue to alleviate poverty and put a smile on the faces of the people.

” I congratulate you on your 60th birthday and Foundation Launch. I wish you many happy returns of the day and many more fruitful services to the country and motherland”, Prince Fagbemi added.

The celebrant, Queen Jumai who was grining from ear to ear thankfully said she was excited by the turn out and the response of the people to her foundation.

Queen Jumai, however, promised to continue to use her resources and donations received for the good of the needy and less privileged in the society.

” I want to appreciate my own Kabiesi Olofa of Offa , for his presence and im I’m using him as a point of contact to all other Kabiesis present here, the minister of justice and Attorney-General, you’re welcome, sir; Mrs Bola Shagaya, I salute your enterprise, Lt Gen Buratai, I’m grateful, sir; DIG Fayoade, Justice Falola and other dignitaries too numerous to mention, I thank you, all. To my darling husband, Kabiesi Olowu , I thank you immensely for your support. And to my family and friends, I thank you , all. E se pupo!”, she said.