Billionaire businessman Ron Burkle is the new owner of Michael Jackson’s Neverland Ranch in Santa Barbara County.
Burkle, a one-time associate of Jackson and co-founder of the Yucaipa Companies investment firm purchased the 2,700-acre property in Los Olivos, near Santa Barbara for $22 million, according to the Wall Street Journal.
First listed in 2016 for $100 million, the property dropped to $67 million a year later, and was down to $31 million last year. Jackson originally paid about $19.5 million for the ranch in 1987.
Michael Jackson’s Neverland Ranch sold to billionaire for $22 million https://t.co/JrGjYSSBCh
— CBS News (@CBSNews) December 26, 2020