Michael Jackson: Neverland Ranch 'sold to billionaire for $22m'

25/12/2020 14:40

Michael Jackson: Neverland Ranch 'sold to billionaire for $22m'

The Neverland ranch of the late pop star Michael Jackson has reportedly been sold to a billionaire investor for a quarter of its initial asking price.

Ron Burkle, a former friend of Jackson, recently bought the estate in Los Olivos, California, his spokesman said.

He paid $22m (£16.2m) for Neverland, the Wall Street Journal reported, citing public records and three people familiar with the deal.

The 2,700-acre (1,100 hectare) compound was first listed for $100m in 2015.

Since then Neverland, north of Santa Barbara city, has been on and off the market, listed most recently last year for the lower price of $31m.

Jackson originally paid about $19.5m for Neverland, which he named after a fictional island where children never grow up in ‎JM Barrie's Peter Pan story.

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