This file photo shows the rear entrance to pop star Michael Jackson's Neverland Ranch home in Santa Ynez, Calif. (AP Photo/Mark J. Terrill, file)Michael Jackson’s Neverland Ranch in California has found a new owner in billionaire businessman Ron Burkle. Burkle views the 2,700-acre property in Los Olivos, near Santa Barbara, as a land banking opportunity, his spokesman said on Thursday in an email. The Wall Street Journal reports 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 asking price of the property was $100 million in 2016 then dropped to $67 million a year later. After Burkle saw the property from the air, he put in an offer to purchase.

Source: Indian Express December 25, 2020 00:22 UTC