Public Memorial for Michael Jackson Announced
Michael Jackson's Neverland Ranch has long been a source of intrigue and speculation, but all that will be put aside Friday when the park opens its gates for a public viewing of the King of Pop.
Exotic animals and amusement rides have always had a place at Michael's one-time home and now his fans will also have an opportunity to grace the infamous grounds to say their last goodbyes to the singer, who died of cardiac arrest last week. Planning is under way for a 30-car motorcade to transport the singer's remains from Los Angeles to the Santa Barbara County estate on Thursday morning. The public memorial will take place the following day.
On Sunday, a private service is scheduled at the same location.
The $33 million property, which Michael bought in 1987 and named after Peter Pan's mythical island where children never grow up, is set on 2,500 acres and has 22 buildings. He transformed the property into every kid's dream, complete with bumper cars, a movie theater and a ferris wheel. However, it's also the location at which two children alleged that the pop star molested them. All along he maintained his innocence and was acquitted of sex abuse charges. After the trial, he moved to Bahrain.
While living out of the country, the estate was set to be foreclosed upon in 2008. At the eleventh hour, an investment company stepped in and purchased Michael's $23 million loan, which took the estate off his hands but left him with a stake in it.
His stake in the home is one of many assets included in the late singer's estimated $236.6 million net worth.The figure comes from a June 2007 financial report that weighed Michael's lavish fortune against his mounting debt. According to the five-page document obtained by the Associated Press, Michael had $567.6 million to his name, but owed $331 million in debts. He also only held $668,215 in cash.
Michael's highest-valued asset was his 50 percent share in the Sony/ATV Publishing catalog, a collection of around 750,000 songs — including hits by The Beatles, Bob Dylan and even the Jonas Bros — worth $390.6 million.
The uncertainty as to whether Michael actually had a legitimate will is going to make the dividing of his assets and debts a grueling process. Lawyers for Michael's mother, Katherine Jackson, have moved to be named as administrator of his estate. She has also been awarded temporary custody of his children, Prince, 12, Paris, 11, and Blanket, 7.
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READERS COMMENTS:
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-- Anonymous
you guys are full of shit ,..what have you done for this world? you dont have cameras on you at all times, since the age of 8,can you imagine?....the hell.
-- kg
he was found innocent, so thats where it stands.
-- J
Why in the world is the press and other delusional fans making Michael Jackson out to be some sort of hero? He was a gifted entertainer, but obviously a very disturbed person to say the least...and a child molestor to say the most. He was no doubt a pervert and I cannot believe we are now celebrating him like he was a saint or something. I think there is a massive effort to outshine Elvis' death. In any case, where were all these supposed fans over the last few years if he was so greatly loved and respected. Good grief!
-- Puzzled beyond belief
Who care's about never land. they won't be a MJ any more. so what is it without him.
-- Aimee
This is in response to proudmommy tn: Why dont you shut up, do you personally know those boys and their families? Did you personally know Michael? if the answer is no, then you need to shut you stupid mouth and stop passing judgement on a man that you know nothing about. Those kids parents were the driving force behind the sex allegations for the purpose and intent of getting a payout. And to all of the negative commenters,take a look at yourself and ask God to forgive you for being so mean and judgemental.
-- nononsense
poor michael ): r.i.p.
-- qewdcxgx
I don't believe the dude is dead; the "body" will be a wax figurine.
-- California Surfer
If you want to critize anyone let it be the parents who would let their little boys, stay the night with a man. Especially the parents, after the first child.I feel he is innocent but if he's not, blame the parents of the boys.
-- Audrey
There has not been another singer who could sing,dance and make a person feel the music like Michael Jackson- And do not forget his outfits- To be able to do all of this makes him the top performer in my book- He was very talented- There have been singers and performers but, none could not do what Michael Jackson did- Michael Jackson was the best singer,dancer in my book. I liked Elvis but, Elvis would be my second pick- Michael would be my first pick for best performer.
-- Mullins |
