Lady Gaga to Buy Michael Jackson’s Neverland Ranch
In 2010, we talked about Michael Jackson’s Neverland Ranch making the most famous foreclosure. Well, Lady Gaga recently announced that she wants to buy the Neverland Ranch, and restore it back to its previous splendor. Gaga has become dear friends with LaToya Jackson, where she learned how Michael’s children are desperate to hold onto their childhood home.
Currently, Sycamore Valley Ranch owns the home. They purchased a $23 million mortgage from Michael when he had financial problems in 2008. Michael’s children—Prince, Paris and Blanket—own shares in the home. Michael’s mother, Katherine, also has shares in the ranch.
Either Lagy Gaga’s obsession with the King of Pop is going to another level, or she just wants to help the young Jacksons out. What do you think?
This photo is courtesy of By kid_diver_chick via Wikimedia Commons at en.wikipedia and it is licensed under the Creative Commons Attribution 2.0 Generic license.
The Most Famous Foreclosure Ever: Michael Jackson’s Neverland Ranch, One Year Later
It has been a year now since the death of the King of Pop, Michael Jackson. With all the endless hoopla that continues on with how he died, everyone knows of the financial troubles that most likely led to his death. One financial trouble was what we refer to as “The Most Famous Foreclosure Ever.”
Neverland Ranch was the sickest house EVER! This foreclosed home was the mother load for any investor that had the money. With an amusement park, giant statues, and a zoo, this property was fit for the king. Jackson bought it back in 1988 from a golf course entrepreneur named, William Bone, for something close to $30 million.
After the foreclosure proceedings, Jackson transferred title of the property to Sycamore Valley Company LLC. The move made the property a joint venture between Michael Jackson and an investment company called Colony Capital LLC. While Jackson sold a portion of the property for around $35 million, his name still owns a stake in the rest of the venture. No word what happens with the stake of ownership Michael Jackson had now goes (probably the kids) but it’s definitely worth a ton of money.
Michael Jackson will kill you …
… if you mess with his “priceless and irreplaceable” items from “Neverland’s trove of memorabilia” that he doesn’t want to auction off, according to Yahoo.com.
Seriously, folks, you can’t make this kinda stuff up:
Darren Julien, said in a sworn statement filed with a Los Angeles court that the singer’s representatives even tried to intimidate him into postponing the sale.During a Feb. 9 meeting at a fast-food restaurant in Los Angeles, he said, one of Jackson’s employees warned that the auctioneers would be in danger “from Farrakhan and the Nation of Islam,” if they didn’t call it off.
“He told us that Dr. Tohme and Michael Jackson wanted to give the message to us ‘that our lives are at stake and there will be bloodshed,'” Julien said, referring to Jackson business manager, Tohme Tohme.
I totally want the chalis that held all of “Jacko’s” Jesus Juice if this auction eventually goes down. That way I can have conversations like this:
“Here Gav, why don’t you try some of my Jesus Juice — it’ll take you to happy places”
“No thanks Mike, last time I did that, my ass felt totally ripped the next morning…”
Or something like that.
