Ron Burkle Buys Michael Jackson’s Neverland Ranch For $22 Million
Michael Jackson’s famous Neverland Ranch in California has finally been sold, more than 10 years after the death of the pop star who had deserted the property after his trial on charges of molesting a young boy.
Billionaire investor Ron Burkle, a former friend of the Jackson family, recently purchased the 2,700 acres of land, according to his spokesperson on Thursday.
The Wall Street Journal said the property, which was renamed Sycamore Valley Ranch years ago, sold for $22 million according to public records. The asking price was $100 million in 2015 and $67 million in 2017.
Jackson, who died from an overdose of anesthetic propofol in 2009 at the age of 50, bought a place in Los Olivos, 120 miles north of Los Angeles, for $19.5 million in 1988.