For years now, The King Of Pop has been the subject of rumors concerning his finances. Reports surfaced that Jackson was in serious financial trouble and was in danger of losing his Neverland ranch and that he was heavily in debt to several banks that had called in his loans. This story should lay all of those rumors to rest once and for all:

Jackson, 50, is renting a mansion in one of the most exclusive areas of Los Angeles, for a staggering $100,000 a month.

The $38million Bel Air house boasts seven bedrooms, 13 bathrooms, 12 fireplaces and sprawling gardens.

The palatial home, which is nestled amongst trees and shrubbery, also comes with a guest house, a screening room and a cellar, while steps at the back of the property lead to a huge rectangular swimming pool and sundeck.

The deal on the lavish pad was reportedly signed several weeks ago, under a heavy-duty confidentiality agreement, and the singer is understood to have already stayed in his new abode.

Photographs of the mansion show a drawing room with leather armchairs, oil paintings hanging on the walls and high wooden ceilings with intricate designs.

The dining room has white drapes shading the windows and a table and chairs to seat eight, while the screening room boasts plush red sofas and a chandelier.

A fountain takes pride of place in front of the property and, once inside, guests are greeted by a wide hallway with a sweeping wooden staircase, large rugs and huge decorative vases.

Jackson vowed never to return to Neverland after being cleared of child molestation charges in 2005. The Thriller singer claimed his home had been ‘violated’ when it was raided by 70 police officers in 2003.
the reported new rental $38m home of Michael Jackson in the Holmby Hills.

The fairground rides and zoo animals have since been moved off the ranch, the flowerbeds have been left to wither and the property has spiralled into a state of near decay.

In 2006, authorities ordered Neverland be closed up and fined Jackson for failing to pay his employees or maintain adequate insurance.

Earlier this year, the singer almost saw the property go into foreclosure, before an investment company bought the $24 million loan on the ranch.

Last month the deeds were transferred to a firm called Colony Capital, in which Jackson retains a stake. Santa Barbara County Assessor’s office said the deal was worth $35million (£24million).
$38m home of Michael Jackson in the Holmby Hills.

But Jackson’s new, pricey Los Angeles home is a direct contrast to recent reports of his financial woes.

The pop star’s failure to produce new music was thought to have had a devastating impact on his cash flow, and his erratic globetrotting was heralded as an attempt to flee creditors.

Last month his lawyers reached a settlement in a $7million breach-of-contract case brought by Bahraini sheikh, Sheikh Abdullah Bin Hamad Bin Isa Khalifa.

And now, a woman calling herself Billie Jean Jackson, who claims to be his wife, is suing the singer for £700,000. She claims to be the mother of his youngest child, Prince Michael II, aka Blanket, and wants joint custody.

In April, Jackson is selling off more than 2,000 of his personal items - including Neverland’s gates and the glittery glove which appeared in the video for Billie Jean.

The music legend plans to donate a portion of the proceeds to charity MusiCares, but is believed to be keeping the rest of the profits for himself.

Jackson spent a time living in Ireland and Bahrain after being cleared of child molestation allegations, and has most recently been living in a gated community in Las Vegas.

But his new, lavish LA pad, which will cost him more than £800,000 a year in rent, suggests his bank balance is still healthy.

Check out pictures of MJ’s new pad below.

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Michael Jackson’s camp is denying recent reports claiming that the King Of Pop is suffering from a rare lung condition which is life threatening:

A spokesman for Michael Jackson released a statement on Monday denying as a “total fabrication” a report claiming that the former King of Pop needs a lung transplant due to a rare respiratory disease.

The statement, attributed to Jackson’s “official and sole spokesperson, Dr. Tohme Tohme” and issued by Los Angeles firm Scoop Marketing, cites an interview with writer Ian Halperin in British newspaper the Sunday Express in which Halperin said Jackson was suffering from Alpha 1-antitrypsin deficiency.

Halperin, who is at work on an unauthorized biography of the singer, also claims Jackson can barely speak, suffers from emphysema and internal bleeding, and has lost 95 percent of the vision in his left eye.

“Concerning this author’s allegations, we would hope in the future that legitimate media will not continue to be exploited by such an obvious attempt to promote this unauthorized ‘biography,’” said the statement attributed to Tohme.

“The writer’s wild allegations concerning Mr. Jackson’s health are a total fabrication,” the statement said. “Mr. Jackson is in fine health and finalizing negotiations with a major entertainment company and television network for both a world tour and a series of specials and appearances.”

Jackson, 50, one of the best-selling recording artists of all time, began his musical career with his siblings in the Motown group the Jackson 5 and went on release such hit solo albums as “Thriller.”

But the singer has been dogged since the 1990s by scandal and revelations about his eccentric lifestyle. He was tried and acquitted of child sex abuse charges in 2005.

What is it with the Jacksons and all of these stories about their health ??? First Janet with her vertigo and pregnancy and now this.

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The King Of Pop, Michael Jackson,  is reported to be suffering from a rare lung disorder and needs to undergo an emergency transplant operation, according to published reports. Jackson’s normally outspoken publicist has not come out to deny the allegations.

Ian Halperin, a New York Times bestselling biographer, tells In Touch magazine and Britain’s Sunday Express newspaper that Jackson may be fighting for his life.

Halperin, author of such tomes as “Love & Death: The Murder of Kurt Cobain” and “Stalking Britney: Under Siege With Britney Spears,” says that Jackson has been diagnosed with Alpha 1-antitrypsin deficiency, an occasionally fatal genetic condition.

“He’s had it for years but it’s gotten worse,” Halperin told In Touch. “He needs a lung transplant but may be too weak to go through with it.

Jackson also suffers from emphysema and chronic gastrointestinal bleeding, which his doctors have had very hard time stopping. It’s the bleeding that is the most problematic part. It could kill him.”

According to Halperin, Jackson “can barely speak” and is having trouble seeing: “The vision in his left eye is 95 percent gone.” Jackson shocked fans in July when he was photographed in wheelchair. He also received help walking recently in Los Angeles wearing a Zorro-style face mask.

Jackson’s rep was unavailable for comment Sunday, but the singer’s brother Jermaine didn’t deny the reports, telling Fox News, “He’s not doing so well right now. This isn’t a good time.”

A woman named Billie Jean is suing Jacko for custody of his son and $1 billion:

In a lawsuit filed in Los Angeles on Wednesday, a woman named Billie Jean Jackson alleges that she is the mother of the singer’s son Prince Michael Jackson II.

The woman demands $1 billion in support payment, as well as joint legal and physical custody of the 6 year old, according to legal documents obtained by U.S. news program Extra.

The woman also requests visits with Prince on Fridays, Saturdays and Sundays as well as participation in his education.

The Thriller hitmaker refused to identify Blanket’s mother after he was born in 2002, but has previously said the child was the result of artificial insemination from a surrogate.

Jackson has faced similar lawsuits in the past. In 2006 and 2007, a woman unsuccessfully sued him for paternity payments, claiming she helped Jackson reproduce.

That’s right folks. Step right up and you can be the owner of Jacko’s famous glove that he made so famous during his performance of “Billie Jean” at Motown’s 25th Anniversary in 1983:

Michael Jackson’s famous jeweled glove is going on the auction block.

Julien’s Auctions says that MJ is also unloading the elaborate gates that once led to his Neverland Ranch. He will also offer more than 2,000 other personal items, during a five-day auction next year.

The King of Pop’s possessions will be on display before the auction begins on April 21, 2009. Bids will be accepted in person and online. The sale will be broadcast live on Auction Network.

MJ plans to donate a portion of the proceeds from the auction to MusiCares which is a charitable organization founded by the Recording Academy to help musicians in need.

Jacko needs to quit the bull$hit and agree to tour with his brothers. That would be the biggest reunion tour ever. They would make enough money to live the rest of their lives like kings and his brothers can stop fixing cars and bagging groceries to earn a living. SMH.

Jacko got the Sheik off of his backo:

The King of Pop Michael Jackson has reached a settlement with a Bahraini sheik who says the singer owes him $7 million after breaching a signed contract, the pop star’s spokeswoman said Sunday.

The out-of-court settlement means that Mr. Jackson will not be giving evidence at London’s High Court as scheduled on Monday, Celena Aponte said.

A large clan  of journalists and fans had been expected to cram the courtroom for the appearance by the always-unpredictable King of Pop. Aponte said Jackson was informed of the deal as he was about to board a flight to London.

“As Jackson was about to board his plane to London, he was advised by his attorneys to postpone his travels since the parties had concluded a settlement in principle,” Aponte said. “Therefore, he will not be attending court on Monday.”

A rep for the sheik could not immediately be reached late Sunday.

Sheik Abdulla bin Hamad Al Khalifa stated that he gave the singer millions and planned a series of collaborations following Jackson’s acquittal on child molestation charges in June 2005. Al Khalifa, 33, invited Jackson to the small, oil-rich Gulf state to escape the media spotlight.

The sheik, the second son of the king of Bahrain, said that he believed he had formed “a close personal relationship” with the star, whom he referred to affectionately as “my brother.”

Al Khalifa said he gave Jacko millions of dollars to help shore up his finances and subsidize Jackson’s lifestyle in Bahrain which included more than $300,000 for a “motivational guru.” Al Khalifa, an amateur songwriter, says the pair even moved into the same palace to work on music together.

But Jacko instead dropped the project in 2006, leaving Bahrain and pulling out of the contract.

Jackson’s attorneys have maintained that the money was a gift and argued that he wasn’t bound by the deal because the contract was signed on behalf of 2 Seas Records, a venture which never got off the ground.

Jackson originally wanted to avoid coming to London to answer the lawsuit in person, seeking instead to give evidence by video link from the United States. His lawyer, Robert Englehart, had claimed that Jackson should be spared the trans-Atlantic trip due to an unspecified illness, but on Thursday the lawyer said the 50-year-old star had been cleared for travel.

The suit is being heard in London by mutual agreement.

Jackson’s purported medical problems - and his sometimes bizarre demeanor - have been a regular feature of previous court appearances. His 2005 trial was punctuated by complaints of back problems, an apparent bout with the flu and visits to the hospital. At one point, the judge had to order the pajama-clad star into court from the emergency room.

Jackson’s most notorious appearance came in 2002, when a wide-eyed Jackson testified in a California courtroom with what appeared to be a bandage hanging from his nose.

Reports are that the King Of Pop, Michael Jackson, has become a Muslim - and changed his name to Mikaeel.

The skint superstar, 50, donned Islamic garb to pledge allegiance to the Koran in a ceremony at a pal’s mansion in Los Angeles, The Sun can reveal.

Jacko sat on the floor wearing a tiny hat after an Imam was summoned to officiate - days before the singer is due to appear at London’s High Court where he is being sued by an Arab sheik.

A source told last night how Jacko, brought up as a Jehovah’s Witness, decided to convert as he used a studio at the home of his chum to record a new album.

Jackson, whose hits include The Way You Make Me Feel - was spotted looking “a bit down” by a producer and a songwriter who had both embraced Islam.

This guy’s life seems to get stranger by the minute. I guess that Sheik that’s suing him must have  scared the $hit out of him to make him convert from a Jehovah’s Witness to Musim. Joe Jackson is probably somewhere crying his eyes out. SMH.

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Michael Jackson will travel to London to testify in a lawsuit brought against him by an Arab sheikh after medics gave him the all-clear to attend.

The Thriller hitmaker is being sued by Sheikh Abdullah bin Hamad al-Khalifa, the second son of the king of Bahrain, for allegedly reneging on a deal to record a new album and write an autobiography.

Jackson’s lawyer Robert Englehart had initially argued in London’s High Court on Tuesday that the singer was suffering from an illness and should be allowed to provide evidence via a video link.

But Englehart revealed on Thursday that Jackson will now fly over from the US after being given the all-clear by doctors.

He is expected in court on Monday.

Englehart says, “He has been cleared by his medical advisers to travel in two days’ time.”

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Well this was very convenient:

Kin Of Pop Michael Jackson’s attorney said Tuesday that the star might be too sick to travel to London to testify in a suit claiming he owes an Arab sheikh $7 million. Jackson’s attorney’s have requested that he be able to give his testimony by video link from the United States.

“It would be unwise for him to travel, given what’s he’s got now,” lawyer Robert Englehart said, declining to elaborate “for the obvious reasons.”

Al Khalifa’s lawyer, Bankim Thanki, said the medical evidence presented by Jackson’s legal team was “very unsatisfactory” and Jackson’s illness could be treated with a bandage “if the diagnosis is positive.”

“It’s not the first time a sick note has been presented by Mr. Jackson,” Thanki said, also without elaborating.

The judge, Nigel Sweeny, said he would decide the matter Thursday to allow time for medical experts on both legal teams to talk.

Sheikh Abdulla bin Hamad Al Khalifa, the second son of the king of Bahrain, claims that Jackson reneged on a contract for an album, a candid autobiography and a stage play, after accepting millions from the sheikh.

Al Khalifa was in court Tuesday for the second day of arguments and testimony.

The case is being tried in London by mutual agreement, Al Khalifa’s representatives have said. It is due to wrap up by the end of the month.

Jacko better give up those stacks if he owes them. I don’t think that he wants to make enemies with a wealthy Arab family. They don’t play by the rules. His nose will end up being detachable for real.

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When it rains it pours:

Representatives for the king of Bahrain’s son say he is suing pop star Michael Jackson for $7 million.

The Bell Pottinger Group says Sheik Abdulla bin Hamad Al Khalifa has filed a breach-of-contract case against the troubled singer at London’s Royal Courts of Justice.

The suit is to be heard Monday afternoon. It comes a week after Jackson gave up the title to his Neverland ranch in California.

In 2006, Jackson announced he would put out a new album for Khalifa’s record label 2 Seas Records. Media reports say Khalifa is arguing that the promised work was never delivered.

Jackson’s finances fell apart following his arrest in 2003 on charges that he molested a 13-year-old boy at Neverland. He moved to Bahrain after being acquitted of the charges.

Jacko better hurry up and try to make a come backo.

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