Thomas Barrack buys loan on Michael Jackson’s estate, Neverland

By Laurie Bennett

May 13, 2008 at 11:17am

Colony Capital chief Thomas Barrack has bailed out Michael Jackson.

Jackson’s California estate, Neverland, was close to foreclosure when Barrack’s real estate company bought the $23.9 million loan on the property. The previous holder of the loan, Fortress Investment Group, had been prepared to auction it off.

Neverland, boasting a roller coaster, ferris wheel, and zoo of exotic animals, garnered all sorts of negative publicity over the years as the site of alleged indiscretions. Jackson bought the ranch 20 years ago, for $28 million, according to the Los Angeles Times.

In 2005, after his acquittal on child molestation charges, Jackson left Neverland behind and moved to the Mideast.

Barrack’s ranch borders Jackson’s estate. However, as Portfolio notes, neighbor is a relative term among the very rich. The two homes are 11 miles apart.

Barrack is a director and owner of Station Casinos, Inc., which owns casinos and hotels in Las Vegas. He formerly handled investments for Texas billionaire Robert M. Bass. Barrack also served as deputy undersecretary of the Interior Department under Ronald Reagan.

He’s a former director of Continental Airlines.

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  • #1.   nelly guerra 06.29.2009

    Thank God for one less ugly molester on Earth. Shame on the parerents that accepted the braib from michel the molestor.

  • #2.   DR 06.30.2009

    Shut the HELL up…u PIG

  • #3.   CBMUDGE 07.01.2009

    Thank god is right… he has deformed himself and he is so insecure he has to play with little kids at the age of 50!! He looked better as a Black Man but then what little kid wants to play with a black man.. they need a CLOWN!!! he may have been talented.. but he ruined his reputation with every child he harmed…

  • #4.   rockinrobin1960 08.24.2009

    Your an idiot. Get your facts before you saying that they accepted a briab. He settled a civil case and when it came to the criminal case they couldn’t get anyone to testify against Michael. It was all about money. Why else would Evan Chandler have sought a lawyer 2 months before the police were notified. People can be so stupid. Michael was innocent and if you would read the facts you would know that too.

  • #5.   Micheline James 11.27.2011

    Every person who continues to label Michael Jackson a child molester rather than research his life and judge him by his deeds has only one agenda. Sadly, it is not to protect children, but to hide an ugly truth about themselves. The more one repeats unfounded accusations against an innocent man, the more they reveal their dark souls while attempting to hide their own sinister thoughts. Without a whipping boy on which to deflect those demons, one might invite unwelcome scrutiny of their own behavior. It’s not a crime to have facial surgery. It’s not a crime to suffer from a disease that turns the skin white. It’s not a crime to be 50 years old and want to help suffering of children. Does caring stop at a certain age…or is that just for Michael? It’s not a crime to recapture a lost childhood when your own has been snuffed out through trauma. It’s not a crime to open your home and bring joy to hundreds of sick and disadvantaged children. It’s not a crime to feel a sense of safety and trust around children when every adult you came in contact with since you were a small boy brutalized, abused, controlled, exploited and violated you for personal gain! It’s not a crime to have a zoo, visit Disneyland, enjoy Easter egg hunts, food fights or buying toys for orphans in hospitals! Would it make a difference if it were someone other than Michael Jackson? Elizabeth Taylor perhaps? Ms. Taylor was a frequent visitor at Neverland, as was Gregory Peck, Marlon Brando and other notable celebrities, all of whom were well over 50 years of age and reveled in the joy of recapturing their own childhood during their stays at Michael’s Neverland Ranch. Did anyone accuse THEM of being a child molester? The truth is, none of these activities or acts of generosity and kindness toward children have a damned thing to do with being a pedophile! Is it any wonder that Michael Jackson only felt safe either on stage or in the presence of children? This is a man who was deeply wounded emotionally, and to those of us who remember the beautiful and gifted child he was, to see the ignorant turn the the knife on his memory by perpetuating this hateful and vile slander only points to another sickness in our society! I feel sorry for anyone who cannot accept that an adult man could have lived his life devoid of malice and deceit, and be of pure intentions, despite living a world that has become so morally decadent that they dare not recognize goodness when they see it. Michael was an angel walking among us who followed God’s path and gave so much back that we couldn’t begin to measure, let alone thank him for. The world…and its precious children were so much richer for having been touched by such a magnificent human being. So if you can’t bring yourself to feel compassion and remorse for the pain Michael Jackson endured during his lifetime, the least you can do is cherish your own children as much as he cherished the world’s children. God bless you, Michael!

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