American billionaire Ron Burkle has just given himself a nice Christmas present. This Montana-based businessman acquired Neverland, Michael Jackson’s vast California ranch for $ 22 million. The man, who owns investments in supermarkets or the music industry, acquired the property for his “land banking opportunity”, told Agence France-Presse his spokesperson. Burkle had also served as Michael Jackson’s business advisor, including helping him settle large debts accumulated as a result of his lifestyle in the years before his death.
Announced by the Wall Street Journal, the price of $ 22 million was confirmed as “about right” by a source familiar with the matter. This represents a dramatic drop from the valuation of $ 100 million dating back to 2015. Last year the price had already fallen to $ 31 million, but the property had not found a buyer. According to the press, Michael Jackson would have acquired this property for 19.5 million dollars in the 1980s. Very indebted, just before his death in 2009, the star had sold this property to Thomas Barrack Jr.’s Colony Capital Investment for 22 , $ 5 million.
Located on 1,100 hectares of land, 65 km from Santa Barbara, the ranch features a main house with six bedrooms, three guest houses, a lake with a waterfall, tennis courts, several barns and shelters for animals. He was raided by investigators in 2003 when the star was accused of having abused children he had welcomed into his home. The police then found a large collection of pornographic images and photos of naked children. Jackson was acquitted in 2005.
A recent HBO documentary, Leaving Neverland, relates the testimonies of two men who claim to have been sexually abused by Michael Jackson when they were children. Michael Jackson’s heirs, who deny the allegations, have sued HBO for “posthumous murder” and are demanding more than $ 100 million in damages.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
