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| .Prosecutors accused Michael Jackson of grooming children at the Neverland ranch, allegations he denied(Photo by=Getty Images) |
[Asia News Communication = Reporter Reakkana] The Neverland ranch of the late pop star Michael Jackson has reportedly been sold to a billionaire investor for a quarter of its initial asking price. Ron Burkle, a former friend of Jackson, recently bought the estate in Los Olivos, California, his spokesman said.
He paid $22m (£16.2m) for Neverland, the Wall Street Journal reported, citing public records and three people familiar with the deal. The 2,700-acre (1,100 hectares) compound was first listed for $100m in 2015. Since then Neverland, north of Santa Barbara city, has been on and off the market, listed most recently last year for the lower price of $31m.
Jackson originally paid about $19.5m for Neverland, which he named after a fictional island where children never grow up in JM Barrie's Peter Pan story. The Thriller singer bought Neverland in 1987, making it his home during the height of his fame. He turned the ranch into an entertainment complex, building a zoo and fairground on-site, where he regularly entertained children and their families. Since his death, Jackson has been the subject of further abuse allegations, including those made in a documentary called Leaving Neverland in 2019. Neverland has been rebranded as Sycamore Valley Ranch and has undergone extensive redevelopment since Jackson's death.
