Jackson who died in 2009, originally paid around $19.5 million for the infamous ranch in 1987. He reportedly spent a further $35 million turning the huge estate into a children’s paradise complete with a zoo, Ferris wheel, a theater, a train station, go-kart track and its very own fire department. It was first listed for sale in 2016 for $100million dropping to $67million a year later until it was further discounted let year to $31million.
After five years it has finally been offloaded to Billionare businessman Ron Burkle for the hugely reduced amount of $22million.
Burkle apparently also was an advisor to Jackson in regards to business matters in the mid 2000s.
Neverland was the background for the 2019 documentary Leaving Neverland when two men accused Jackson of sexually abusing them as children. The claims of abuse from another child on the property had resulted in Jackson’s molestation trial which took place in 2005. The singer was acquitted but afterwards moved his main residence from Neverland although he remained owner of the Ranch.
A spokesperson for Burkle told the Wall Street Journal that the purchase provided and ‘opportunity’ for the 68 year old entrepreneur to add to his growing California portfolio.