I can’t believe it. After years of allegations, lawsuits and a circus of a court case, Michael Jackson might actually be bankrupt. Today the National Enquirer has a story on the secret sale of Neverland, Michael’s fantasy world “compound”.
What’s puzzled me most about his predicament is that even if he never sold another album, played a concert, or hung out with Corey Feldman, the Gloved One was covered financially in this life and the next, thanks to his control of the publishing rights to the Beatles music. Despite the deca-millions the catalog generates in royalties every year, first he sold one half to Sony, then borrowed against the other half. Which might not have been a disaster except he racked up debts in excess of the assets.
I don’t know how one spends hundreds of millions. Then again, not sure how one makes hundreds of millions either.
What I do know: guilty or not, allegations of pedophilia are hell on sales. Somewhere in this great nation is a milk carton with a picture of Michael Jackson. A caption below reads – have you seen this man’s career? Missing since 1993.
