Michael Jackson
The King of Pop Michael Jackson died on June 25, 2009 in Los Angeles, California. Reuters/Michael Crabtree

Michael Jackson has surpassed Elvis Presley to become the world's top earning dead celebrity, as revealed in a list released by Forbes.

This list was compiled after extensive study with estate managers, agents, music publishers and other managers to acquire an estimate of the estate's earnings between October 2013 and October 2014. The results revealed were quite astonishing.

Jackson's brand continues to soar high even after his shocking demise. His estate earned a whooping figure of $140 million. This amount was mainly from the release of his second posthumous album 'Xscape', which topped the charts.

His image got further boost from his holographic performance shown during the Billboard Music Awards 2014. The gig was applauded worldwide due the sheer brilliance of technological advancement, which made the star come alive on the stage.

"Few celebrities prove the point that there is (financial) life after death better than Michael Jackson," said Forbes.

Jackson's earning was more than double of that acquired by Elvis Presley, who placed second with $ 55 million. Presley's estate is still earning in millions as thousands of his fans go to Graceland each year and loves to visit his music library. ABG, the company handling Presley's estate, will also soon embark in the world of holograms, as told by Forbes.

As per the CEO of ABG, the hologram of Presley will be finished by next year. It will be brought to Las Vegas and planned to even perform with Michael Jackson. This will definitely be a treat for all music lovers and fans of the artists.

The third position is taken by the cartoonist and the creator of the 'Peanut' comic strip, Charles Schulz, with earnings of $ 40 million. His image will get an additional boost as an upcoming 3-D movie involving his beloved characters will hit the cinemas next year.

Watch Michael Jackson's hologram performance during the Billboard Music Awards 2014: