Michael Jackson's Neverland Ranch Sold For $22m To Ron Burkle

Neverland Ranch (FiledIMAGE/Shutterstock.com)

The property formerly known as NEVERLAND RANCH, MICHAEL JACKSON's former home, has been purchased by financier RON BURKLE, co-owner of the PITTSBURGH PENGUINS and head of YUCAIPA COMPANIES. 

THE WALL STREET JOURNAL reported the sale price was $22 million. JACKSON purchased NEVERLAND RANCH -- named after the fictional "Neverland" from "Peter Pan" -- in 1987 for $19.5 million. The 2,700-acre estate once contained 22 structures, including an amusement house and a zoo which, at one time, housed elephants, a giraffe, orangutans, and JACKSON's pet chimp BUBBLES.

JACKSON died in 2009. In 2014, the property was listed for sale at $100 million. It was reportedly pulled off the market in 2017 after failing to find a buyer following a price drop to $67 million, and went back on the market in 2019 for $31 million.

The property, now known as SYCAMORE VALLEY RANCH, was jointly owned by JACKSON's estate and a fund managed by the real estate investment trust COLONY CAPITAL. At the time, agent KEITH FORSYTH shared the listing with SUZANNE PERKINS. The property, which contains the nearly 12,000-square-foot main house where JACKSON lived for 15 years, was held off the market because of wildfires and mudslides..

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