Neverland Ranch has a new owner. Ron Burkle is said to have bought the property that once belonged to Michael Jackson. The billionaire has apparently made a bargain.
Superstar Michael Jackson’s Neverland Ranch has been sold to a US billionaire. The California property was acquired by businessman Ron Burkle, his spokesman announced on Thursday. According to information from the “Wall Street Journal”, the billionaire is said to have paid the heavily reduced price of around 22 million dollars (18 million euros).
“Opportunity to do business with building land”
In 2015, $ 100 million had been asked for it. Heavily indebted Jackson had sold Neverland Ranch a year before his death. It was then acquired by the investment firm Colony Capital for $ 22.5 million.
According to its spokesman, the new owner regards the property as an “opportunity to do business with building land”. The business empire of the state of Montana-based Burkle is ramified, spanning from the supermarket to the entertainment industry.
Michael Jackson’s Wonderland
The property, renamed Sycamore Valley Ranch after the death of the King of Pop, had been for sale for years. Last year the price had already been lowered to $ 31 million. The 1,100 acre property is 40 miles from Santa Barbara, Southern California. In addition to the main house with six bedrooms, there are three guest houses, a lake with a waterfall, several tennis courts and accommodation for animals.
Michael Jackson had Neverland designed as a kind of fairy tale land. There was a zoo, railroad, ferris wheel, and other amusement park rides there in its day. The King of Pop wrote some of his greatest hits on the estate. But it was also the place where he invited little boys to spend the night. The location played an important role in the abuse allegations against Jackson.
Michael Jackson died in 2009 at the age of 50
Michael Jackson was acquitted of the allegations in 2005. In a 2019 documentary, however, two now grown men reiterated their previous allegations of being molested by the singer.
The megastar died on June 25, 2009 at the age of 50 from an overdose of the anesthetic propofol. The pop singer has sold around 350 million albums and received 13 Grammy music awards.