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Michael Jackson’s Neverland Ranch Has Been Sold to Billionaire

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Michael Jackson’s Neverland Ranch Has Been Sold to Billionaire

Michael Jackson’s famous Neverland Ranch in California has now been sold to the billionaire businessman, Ron Burkle.

The Wall Street Journal reports 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.

The report continued, per THR:

The asking price of the property was $100 million in 2016 then dropped to $67 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 theater 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. Burkle ultimately decided the location was too remote and expensive for a club.

Burkle is the controlling shareholder of Soho House. After Burkle saw the property from the air, he put in an offer to purchase.

See a picture of the property below:

Credit: Olisatv

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