The fanciful former home of Michael Jackson, Neverland Ranch, stuck on the market for years, has finally sold, though the property sold for far less than the original asking price. There are several reasons why the Santa Barbra estate sold for millions less than was originally presented, including, of course, the previous owner’s reputation and the changes made to the grounds.
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Michael Jackson s Neverland Ranch Sold For $22m To Ron Burkle
December 28, 2020 at 1:20 AM (PT)
Neverland Ranch (FiledIMAGE/Shutterstock.com)
The property formerly known as NEVERLAND RANCH, MICHAEL JACKSON s former home, has been purchased by financier RON BURKLE, co-owner of the PITTSBURGH PENGUINS and head of YUCAIPA COMPANIES.
THE WALL STREET JOURNAL reported the sale price was $22 million. JACKSON purchased NEVERLAND RANCH named after the fictional Neverland from Peter Pan in 1987 for $19.5 million. The 2,700-acre estate once contained 22 structures, including an amusement house and a zoo which, at one time, housed elephants, a giraffe, orangutans, and JACKSON s pet chimp BUBBLES.