A billionaire businessman is now the new owner of Michael Jackson’s Neverland Ranch.
(AP Photo/Mark J. Terrill)
The California property reportedly sold for US$22 million after being initially listed for US$100 million in 2016. The price further dropped to US$67 million a year later.
The iconic 2,700-acre ranch near Santa Barbra was bought by Ron Burgle, an associate of Jackson and co-founder of Yucaipa Companies investment firm.
The purchase includes the 12,500 square-foot main residence and a 3,700 square-foot pool house. There’s also a standalone 50-seat movie theatre and a dance studio.
Other features on the ranch are a “Disney-style” train station, a fire house and barn.
