Los Angeles, Aug 14 (DPA) Michael Jackson's estate has earned $100 million since his death with a film contract and advertising contracts, and is expected to earn another 100 million by the end of the year, The New York Times reported Thursday.

A good portion of those earnings will likely be used to pay the hundreds of millions in debts the King of Pop reportedly left behind after his June 25 death. A clear picture of his net worth and his debts has not yet been tallied.

Jackson lawyer and co-executor of the estate John Branca estimated that the pop star could earn 50 to 100 million per year. Elvis Presley brought in $55 million last year alone.

Jackson's mother and three children are to receive about 40 percent of his estate, with another 20 percent going to charity.

Also Thursday, it was announced that the glove worn by the late King of Pop Michael Jackson during his famous Moonwalk TV gala performance is to go up for bids.