The most recent GTA Online The Contract DLC confirms that Michael is still alive after the events of the main story.
For those who don’t know or never played through the story, Grand Theft Auto 5 offers various endings, with certain people living or dying depending on what options players choose. One option will kill Trevor, while the other will kill Michael. The third option available to GTA 5 players ensures that all three protagonists survive the game’s events, which has long been thought to be the canon ending.
Now after the release of The Contract DLC, it has been confirmed that the third option is indeed the canon ending for Grand Theft Auto 5.
During one of the new missions, players have to drive through the movie studio area in a golf cart. During this scene, Franklin mentions that he knows one of the movie producers that work there, and while he may be referring to someone else, it’s extremely clear that he’s referring to Michael, who accepts a job as a movie producer at the end of GTA 5.
It is also known that Trevor is alive after the events of GTA 5 which the GTA Online Smuggler’s Run DLC confirmed. So it’s safe to say that the canon ending for GTA 5 is indeed the third option where all main characters survive.