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According to the Wall Street Journal, Jackson’s millionaire friend Ron Berkeley bought the house for just £ 22 million.
However, when the house, built on some 2,700 acres of land, went up for sale in 2015, it was valued at £ 100 million.
According to the BBC, the price of the house has fluctuated several times since then. Last year, it traded on the market for a low of £ 31 million.
In 1989, Jackson himself bought the house for £ 19.5 million. He lived with his family in this house when he was at the peak of his fame.
After buying the house, he turned it into a leisure center. There are a variety of sports facilities for children and a zoo.
However, there were several allegations of child sexual abuse against Michael Jackson at Neverland in the 1990s and beyond, and several investigations were conducted at the home.
Santa Barbara prosecutors allege that Jackson used Neverland as a fantasy world to groom young children. However, Jackson has always denied the accusations against him.
Jackson was tried in 2005 for sexually harassing a 13-year-old boy and was later acquitted.
After being acquitted in that case, Jackson never returned to Neverland.
Four years later, in June 2009, Jackson died in another home in Los Angeles.
After Jackson’s death, Neverland was renamed ‘Sikamor Valley Ranch’. Then there is more renovation work.
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