Michael Jackson's Neverland Ranch Sold For $22M

 

It's been over a decade that the music industry lost one of its most iconic singers and an acclaimed King of Pop, Michael Jackson. In his demise, a lot has happened amongst which was a docuseries of a controversial incident of sexual abuse of then underage boys that took place at his famous residence that has just cooled off mainstream media. 

The Neverland Ranch, MJ's famous residence which was sold to an investment company the year after his death has now gone under the hammer, and a new owner has emerged after sealing a discounted deal price of $22.5million for the purchase of the property according to Wall Street Journal. 

Who else would have been able to dole out such a staggering amount of money than a billionaire of course? Ron Burkle, a Montana-based business mogul who wons strings of investments in supermarkets and in the entertainment industry is the new owner of Neverland Ranch.

The initial price tag for the property was $100million back in 2015 and was reviewed to $32million last year yet there were no buyers until it was reduced further to $22million. The buyer, Burkle, was the highly indebted late singer's financial adviser on resolving debts he incurred. 

Neverland Ranch, a 2,700-acre estate with state-of-the-art facilities with six bedrooms and three guest houses cost the late singer $19.5m when he bought it in the 1980s.