Billionaire Businessman Buys Michael Jackson’s Neverland Ranch
Written by Site Hub on December 25, 2020
Officials representing Michael Jackson’s Neverland Ranch have just announced that it has been purchased by billionaire businessman, Ron Burkle.
According to Burkle’s representative, the 2,700 acre estate in Los Olivos, near Santa Barbara was purchased with the intent of using it for land banking.
Initial reports from the Wall Street Journal suggest that the selling price was well below the original asking price. In 2016, the cost was $100 million, but it dropped to $67 million a year later.
Burkle purchased the estate for $22 million after everything was said and done. The property contains a 12,500 square ft. mansion with a 3,500 ft pool house, as well as a separate building with a 50 person movie theater & dance studio.
Source:
AP
