Is Michael jackson worth money he's dead what is happening with neverland

Since he is dead he doesn't have a net worth. His estate is another matter. I would imagine, like Elvis's estate, it is an ever changing figure.

Latest info I could find on Neverland:
Will California Buy Neverland Ranch? (http://www.luxist.com/2010/07/15/will-california-buy-neverland-ranch/)

His estate must be worth a lot. His old man is in court looking to get a slice of the pie.
The Associated Press: Appeals court sets hearing in Jackson estate case (http://www.google.com/hostednews/ap/article/ALeqM5h9a7kycTsBsS5YVilTVuapWmQ4JgD9I03OQG0)

Regarding Neverland :

Colony Capital LLC, a Santa Barbara-based private equity firm, that worked with Jackson to save the ranch when he nearly lost it to foreclosure in 2008. Jackson signed over control of the estate to Colony Capital for $35 million in 2008 and the company co-owns the property with the Jackson family.
Will California Buy Neverland Ranch? (http://www.luxist.com/2010/07/15/will-california-buy-neverland-ranch/)

There are thoughts that California would purchase it to make it into a tourist attraction. But Jackson's pet Bubbles the chimp wants to turn it into an animal sanctuary.

JAL beat me to the punch on the estate link... kudos

I didn't think he was worth much alive, his debts were pretty hefty. At least the little kids are a little safer now.