King of Pop's Possessions in Auction

What is this all about? Is the King of Pop near to bankruptcy?

The King of Pop's possessions will be on display before the auction begins on April 21, 2009. This includes his grandiose gates that once led to his Neverland Ranch, his infamous jewel-bedazzled glove which he used on his 1983 video hit "Billie Jean”, and along with more than 2,000 other personal items. Bids will be accepted in person and online. The sale is to be broadcast live on Auction Network.

A portion of the proceeds will be donated to MusiCares, a charitable organization founded by the Recording Academy to help musicians in need.

Not bad! The King of Pop is still living a grand life.