George Michael died in 2016 on Christmas Day (Image: Mirror )
Iconic musician George Michael has posthumously earned a staggering £292,424-a-week over the past two years.
The late Wham! star’s enterprise, Nobby’s Hobbies Holding Limited Account, recently disclosed its yearly financials, according to The Mirror.
The figures revealed an impressive turnover of £23,777,273 in 2023 and £6,634,840 the previous year, bolstered by the chart-topping success of “Last Christmas.”
George Michael passed away on Christmas Day in 2016 at the age of 53, with his death attributed to natural causes related to heart and liver conditions. Nonetheless, his musical influence endures.
As of March 2024, the company boasts cash and assets totalling £29.5m.
The annual report stated: “The directors are closely monitoring the impact of the uncertainty arising from UK and world events. Whilst the directors appreciate there is significant uncertainty surrounding the future economic climate, at the year end and as the date of signature of the financial statements, the group’s activities remain positive with limited exposure”, reports .
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George Michael (left) and Andrew Ridgeley of Wham! in 1985 (Image: Getty Images )
It continued: “The principal activity of the company continued to be that of a holding company and its subsidiaries undertakings continue to be involved in musical activities. The profit for the year, after taxation, amounted to £1,125,467 (2023 – £16,198,128). Dividends amounting to £1,378,699 (2023 – £3,292,210) were approved and paid within the year by the directors.”
The accounts revealed that £2m of the turnover was generated from publishing income, £3.5m from royalties and a modest £6,260 from merchandise sales. The company, overseen by George’s family, also pocketed £91,559 for a documentary about the late singer.
These earnings were disclosed after Wham! clinched the Christmas number one spot in 2023 with their single Last Christmas.
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Despite being a perennial favourite since its release in 1984, the song, written by George, had never previously topped the charts in the final week before Christmas. It was pipped to the post in its debut year by Band Aid’s chart-topping Do They Know It’s Christmas?
In a generous move, George pledged all royalties from the hit to Band Aid.
The documentary, helmed by band member Andrew Ridgeley, premiered in June 2023 to commemorate the duo’s 40th anniversary. Fans praised the ‘beautiful’ film, which showcased a trove of previously unseen material, as giving them ‘goosebumps’.
Producer Simon Halfon revealed his team spent over two years unearthing footage and audio for the project.
Following Wham!’s chart-topping success, Andrew expressed that George would be ‘beside himself’ knowing Last Christmas finally achieved the coveted Christmas number one spot.
Andrew, 61, reminisced about how he and his bandmate, affectionately known as ‘Yog’, gauged their success in Wham! by chart positions, making it a ‘disappointment’ when the song originally peaked at number two.