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Billionaire Ron Burkle Buys Into Malibu
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Soho House Owner Raises $420M In IPO
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Michael Jackson’s “Neverland Ranch” has found a buyer: Billionaire investor Ron Burkle (Getty, Redfin)
Billionaire investor Ron Burkle has purchased Michael Jackson’s former “Neverland Ranch” for $22 million, a far cry from the $100 million the sprawling estate was once asking.
Property records spotted by the Wall Street Journal show that a “Remember LLC” bought the 2,600-acre Santa Barbara County plot on Dec. 17, and the publication traced that LLC back to Burkle. The seller is a joint venture between the late pop megastar’s estate and Colony Capital, which bought the note on the property in 2008 and became a co-owner.