Michael Jackson’s infamous Neverland Ranch has been purchased for $22 million.
Pittsburgh Penguins co-owner and investment banker Ron Burkle laid down the bucks for the Jackson property where it was alleged but never proven that Jackson committed horrific sex crimes against minors.
Neverland was initially listed for $131.4 million in 2014. By 2017 it was down to $88 million. In 2019, still without a buyer, the price dropped again to $40.7 million before finally being snapped up by Burkle for $22 million.($AUD28.9 million).
Jackson built Neverland at 5225 Figueroa Mountain Road in Los Olivos, California in 1988 and made it his home until 2005. The property was originally the Zaca Laderas Ranch, then renamed Sycamore Valley Ranch after it was purchased by William Bone in 1981.
Jackson bought the ranch for somewhere between $19 million and $30 million. The price has never been disclosed.
Paul McCartney stayed there in 1983. Jackson and McCartney’s ‘Say Say Say’ was made at the ranch.
Michael Jackson died in 2009.
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