US billionaire finally buys Michael Jackson’s Neverland Ranch
The Neverland Ranch in California which belonged to the late pop star, Michael Jackson has found a new owner in billionaire businessman Ron Burkle.
The spokesman for Burkle said in an email Thursday that the billionaire bought the 2,700-acre property near Santa Barbara and views it as a land banking opportunity.
In its report, the Wall Street Journal indicated that the property was sold for $22 million to Burkle, an associate of the late pop star and co-founder of the investment firm Yucaipa Companies.
Burkle is also part-owner of the Pittsburgh Penguins and an investor in several startups such as AirBnB, Spotify, and Foursquare.
In addition to a 12,500 square-foot main residence and a 3,700 square-foot pool house, the property boasts a 50-seat movie theater and a dance studio.