Arnold Palmer's popularity didn't disappear when he died on Sept. 25, 2016. And neither did the legendary golfer's ability to make money.
Palmer's estate pulled in $40 million in the first year since his death, according to Forbes. In fact, golf's King trails only the former "King of Pop," Michael Jackson, on the magazine's recently released annual list of highest-paid dead celebrities. Jackson led the list for a fifth consecutive year with earnings of $75 million.
The $40 million figure is in line with what Palmer was reported to have earned in Golf Digest's annual list of highest-paid players during the last year he was alive. The money comes mainly from the seven-time major champ's stake in AriZona Beverage's production of the lemonade-iced tea drink that bears his name, along with branded apparel and sponsor deals with Rolex and MasterCard.
Forbes' list tracked pre-tax income earned between Oct. 15, 2016 and Oct. 15 of this year. Palmer edged Peanuts creator Charles Schultz at $38 million. Another "King," Elvis Presley was fourth at $35 million followed by Bob Marley at $23 million.