The late King of Pop, Michael Jackson’s famous 2,700-acre Southern California ranch has been sold.
The ranch was sold for 22 million dollars to billionaire Ron Burkle, The Wall Street Journal reported.
Burkle, whom Forbes estimates is worth 1.5 billion dollars, was a lover of Jackson, who helped manage his money within the mid-2000s, consistent with the Journal.
He is also co-owner of the Pittsburgh Penguins.
Neverland was first placed on the market in 2015, available for 100 million dollars six years after Jackson’s death.
Colony Capital, a true estate investment company, owned the Los Olivos, California, property under a 2008 agreement with Jackson.
Subsequent attempts to sell the ranch also flopped, until Burkle was flying over the world and saw it, the Journal reported.
He called Colony’s founder Tom Barrack and offered to shop for Neverland, albeit it wasn’t on the market.
Neverland has undergone various renovations since Jackson’s death, including the removal of its famous funfair rides.
The property still has 22 buildings, including a 12,000-square-foot mansion.
Jackson bought Neverland in 1987 but said he never returned following his 2005 trial on child molestation charges.
Although he was acquitted, Jackson said the ranch carried bad memories.
A 2019 documentary, “Leaving Neverland,” followed two men who said Jackson sexually abused them on the ranch once they were children.
Burkle bought the property as an investment and has no plans to measure there, the Journal reported.