As tributes flood in following the recent and sad death of pop legend Michael Jackson, questions are beginning to emerge about how to make sense of his complex estate.
It’s no secret that in recent years Jackson was plagued by rumours surrounding his money problems – a remarkable feat for a man who sold over a quarter of a billion albums. Asset-rich thanks to acquiring a diverse portfolio of land, art, historical artefacts and musical rights, it has nevertheless been reported that at the time of his death Jackson owed anything up to several hundred million dollars in debt.
Of course, Michael Jackson’s most famous (or should that be infamous?) property is and will always remain his Neverland Ranch, a personal theme park spread over 2,800 acres of rural California. The sprawling property boasts a helipad, two railway lines, a host of theme park rides, a zoo, and even its own fire department.
Valued several years ago by Santa Barbara County at around $90 million, it is unclear exactly how large a slice of the property Jackson owns after events last year. Jackson, allegedly owing several months’ payments on Neverland and in danger of repossession, entered into an agreement with a private investment firm in order maintain a degree of ownership.
Only time will tell what will be left for his three young children.
Please leave your thoughts and condolences regarding Michael Jackson below…
Commentsoldest first
How long until Neverland is turned into a theme park, I wonder? A tribute, the press release will say. All in the best possible taste.
I’ve read that the ranch is currently being redeveloped to open as a public theme park, although work started many months ago and so isn’t linked to the sad events of yesterday. Not sure how Michael’s death will affect those plans, however
Leave a comment
* Required field.