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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 deal.
Superstar Michael Jackson’s Neverland Ranch has been sold to an American billionaire. The California property was acquired by businessman Ron Burkle, his spokesman announced Thursday. According to information from the “Wall Street Journal”, the billionaire is said to have paid the greatly reduced price of around 22 million dollars (18 million euros).
“Opportunity to do business with building land”
In 2015, $ 100 million was requested. Jackson, deeply in debt, had sold Neverland Ranch a year before his death. It was later acquired by investment firm Colony Capital for $ 22.5 million.
According to his spokesman, the new owner sees the property as an “opportunity to do business with building land.” Burkle’s business empire, based in the state of Montana, branches out from the supermarket to the entertainment industry.
Michael Jackson’s Wonderland
The property, renamed Sycamore Valley Ranch after the King of Pop’s death, had been up for sale for years. Last year, the price had already dropped 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 waterfall lake, several tennis courts and animal housing.
Michael Jackson had designed Neverland as a kind of fairy tale land. In its day, there was a zoo, a railway, a Ferris wheel, and other amusement parks. The King of Pop wrote some of his greatest hits on the estate. But it was also the place where he invited young children to spend the night. The location played a large 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. However, in a 2019 documentary, two now-grown men reiterated their earlier allegations of being sexually abused 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 over 350 million albums and received 13 Grammy Awards for music.
