According to TMZ, reports of Prince's net value being $300 million were inflated. In this photo, the music icon performs during his 'Diamonds and Pearls Tour' at the Earl's Court Arena in London, June 15, 1992. REUTERS/Dylan Martinez

Amid doubts of who will inherit Prince’s fortune, TMZ reported Sunday that reports stating the music icon's net value to be $300 million were inflated. Prince was found dead Thursday at his Paisley Park compound in suburban Minneapolis.

According to TMZ, the "Purple Rain" singer's business empire was in a chaotic situation before his death as he lacked control of his estate. Sources close to Prince told TMZ that the singer often switched up advisors, and also lacked high-power attorneys required to handle his business affairs. The celebrity news website also claimed that Prince's fortune was probably closer to $150 million.

Following Prince's death, sales of his music had increased and the soundtracks of two of his albums — "The Very Best of Prince" and "Purple Rain" — were at the number one and two spots on the Billboard 200 chart. According to Nielsen Music, 2.3 million Prince song sales took place in three days, including nearly 1 million on Thursday. "Purple Rain" sold the most, followed by "When Doves Cry," ''Little Red Corvette" and "Let's Go Crazy," the Associated Press reported.

Reports over the weekend suggested that Prince's younger sister, Tyka Nelson, could be first in line to inherit his fortune.

The iconic singer was cremated Saturday in a private ceremony, attended by family members and close friends. The official cause of Prince's death still remains unknown.

“The ‘final storage’ of Prince’s remains would remain private, but an announcement about a ‘musical celebration’ is forthcoming,” Prince’s publicist, Yvonne Noel-Schure, told NBC News in a statement.

During one of his last appearances, Prince looked "pale" and "weak," the Independent reported, amid claims by Nelson's husband, Maurice Phillips, that the music superstar stayed awake for 154 hours before his death.

"He worked 154 hours straight. I was with him just last weekend. He was a good brother-in-law," Phillips reportedly said.