Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

File photo. Neverland Ranch in California Mark J Terrill/PA Images
Knockdown price

Michael Jackson's Neverland Ranch sells for fraction of original $100 million asking price

A billionaire businessman purchased the property.

MICHAEL JACKSON’S NEVERLAND Ranch in California has been sold for $22 million (€18 million).

Billionaire businessman Ron Burkle purchased the 2,700-acre property in Los Olivos, near Santa Barbara, after seeing the site from the air and putting in an offer.

The Wall Street Journal first reported the sale of the property to Burkle, an associate of the late pop star and co-founder of the investment firm Yucaipa Companies, who sees the investment as a land banking opportunity.

The asking price of the property was $100 million (€81.95 million) in 2016 then dropped to $67 million (€54.9 million) a year later.

In addition to a 12,500 square-foot main residence and a 3,700 square-foot pool house, the property boasts a separate building with a 50-seat movie theatre and a dance studio.

Other features on the ranch are a Disney-style train station, a fire house and barn.

Burkle’s spokesman said the billionaire had been eyeing Zaca Lake – which adjoins the property – for a new Soho House, a members-only club with locations in Los Angeles, Miami, New York and Toronto.

He ultimately decided the location was too remote and expensive for a club.

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Your Voice
Readers Comments
7
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.