Madonna, Beyonce Knowles and Mariah Carey are planning a Michael Jackson tribute album

Some of the worlds biggest music stars are ready to honor the late Michael Jackson by recording versions of his songs for a charity album.

Robbie Williams, Whitney Houston, Lionel Richie, Stevie Wonder and Diana Ross have also been linked to the LP, as is the British schoolboy who was hand picked to sing at Micheal's memorial concert last month, Shaheen Jafargholi.

“The idea came from the memorial concert," a source said. "Many fans asked if cover versions from it would be released, and it seemed a wonderful idea. This covers album is sure to be a massive worldwide hit with fans and could raise a fortune for Michael’s favorite charities.”

The contributing stars will pick their favorite songs by the ‘King of Pop’ to cover. It is believed Mariah will record her version of ‘I’ll Be There’ from the memorial, while Shaheen will sing his version of ‘Who’s Loving You’. He has also reportedly been asked to record Michael’s early smash ‘Ben.'

Robbie is apparently going to sing ‘Man In The Mirror’, and other tracks expected to be on the album include ‘Rock With You’, ‘She’s Out Of My Life’ and ‘Bad.'

A Michael Jackson tribute concert is also being planned in London – where he had been due to play 50 shows starting this summer and running into 2010 – on the date of what would have been his 51st birthday, August 29.

Michael Jackson Memorial Service

Michael Jackson’s Memorial Service went down as one of the biggest events that have occurred in the past 30 years. There were breath taking performances from people the legendaries music genius’ like Stevie Wonder, Lionel Richie, and Mariah Carey, R&B sensation Usher, and Britain’s Got Talent finalist Shaheen Jafargholi. Other celebrities like talented basketball player Kobe Bryant, actress and singer Queen Latifa, and long time friend Brooke Shields made heartfelt speeches including family friends like Reverend Al Sharpton, Martin Luther King III.

The Memorial ended with a few words from 2 of his brothers and a teary goodbye from his daughter Paris saying, “Ever since I was born, daddy has been the best father you could ever imagine, and I just wanted to say I love him so much.” She was crying too much to be able to say anymore and was escorted off stage by the very own Janet Jackson.

There were tears and laughter among everyone there, whether it was from the audience, performers, or speakers. It was without a doubt a beautiful ceremony.

Michael Jackson's Public Memorial Details

It has been decided that there will be public memorial for Michael Jackson, held on Tuesday, July 7, 2009 at 10am at The Staples Center in Los Angeles. Reports claim there will be 11,000 tickets available to the general public to attend...you can check availability here!