Neverland Ranch Sold for 190 Million – E24

The huge Neverland Ranch in Santa Barbara, California has been sold for many years.

Now it has been sold to billionaire and investor Ron Burkle, who previously worked as a business consultant for Michael Jackson.

Burkle is a businessman from Montana. He has invested in various industries, from grocery stores to the entertainment industry.

The price ended at $ 22 million and implies a significant discount. This corresponds to around 190 million NOK.

Accusations of abuse

Michael Jackson once turned the property into an amusement park.

The property is named after the fantasy island in the Peter Pan story, where children never grow up. Previously, it included an amusement park and a private zoo.

There he also wrote some of his famous songs.

But Neverland also became known as the place where Jackson was accused of abusing young children.

After Jackson’s death in 2009, Neverland changed its name to Sycamore Valley Ranch.

A long sales process

He has been demanding to sell the Neverland property.

In 2015, the ranch was taken out for $ 100 million, which is equivalent to more than 870 million crowns at the current exchange rate.

After two years in the market, the brokerage house was replaced and the price was reduced to 67 million dollars. Later in 2017, the property was taken off the market.

Last year the price was lowered to $ 31 million, but the property has yet to be sold and was later taken off the market.

The ranch has now sold for less than a quarter of the original value.