Michael Jackson's Neverland gets a new owner as the star's former associate billionaire Ron Burkle snaps up the infamous ranch for $22M - a whopping $80M lower than the initial asking price
Michael Jackson's Neverland finally has a new owner after the star's former associate billionaire Ron Burkle snapped up the infamous California ranch for $22 million - a whopping $80 million lower than the initial asking price. Burkle, co-founder of investment firm Yucaipa Companies and co-owner of Soho House, bagged the huge mansion and sprawling grounds located in Los Olivos, around 40 miles from Santa Barbara, according to the Wall Street Journal. Once home to the 'King of Pop', the ranch was inspired by J.M. Barrie's novel 'Peter Pan' and used to feature an amusement park, rail track and a zoo. But, the ranch languished as Jackson was plagued by financial issues and allegations that he sexually abused children there. Michael Jackson's Neverland finally has a new owner after the star's former friend billionaire Ron Burkle snapped up the infamous California ranch for $22 million - a whopping $80 million lower than the initial asking price. Pic