Neverland in its heydayThis must be one of those days Michael Jackson wished he had just stayed in his hyperbaric chamber. He better hurry up and put that contraption in Blanket's name because the repo man's at the door.
Michael Jackson has defaulted on a $23 million loan and may lose his once-beloved Neverland ranch, which was used as security for the loan. I say once-beloved because Michael never went back there after his child molestation trial. The estate has fallen into serious disrepair in recent years as Jackson became unwilling or unable to pay for staff or its upkeep.
This is just the latest rupture in Jackson's tattered empire. He faces numerous lawsuits, including one for $7 million by the Bahrainian prince who took him in after his career-ending trial. Almost everyone who's done business with him in recent years is claiming default, causing speculation that he'll soon file for bankruptcy to avoid further judgments.
Lest you cry in your Jesus Juice, don't despair. Jackson still has his 50% interest in the Beatles catalog, which is said to be worth about $600 million ... but when you deduct the over $300 million in debt he's accumulated it doesn't leave much. His parents and siblings still rely on him for support, and that's a heavy load of freeloaders to drag around. Does anyone in that family hold a real job?
i think losing his neverland
i think losing his neverland ranch is completly not fair. it was his home. but if he did not pay his bills then he souldve done it before he even decided to spend it on rubbish.