The billionaire buys Michael Jackson’s Neverland estate for 22 million dollars

Angels – Michael Jackson’s Neverland Estate now has a new owner: billionaire businessman Ron Burkle.

The businessman sees the 2,700-acre property in Los Olivos, near Santa Barbara, as a real estate investment opportunity, a spokesman said Thursday.

Wall Street Journal reported that Neverland was sold for $ 22 million Burkle, a partner of the late pop star and co-founder of investment firm Yucaipa Companies.

The farm had a sale price of $ 100 million in 2016 and dropped to $ 67 million a year later.

In addition to the 12,500-square-meter main residence and a nearly 3,700-square-foot pool house, Neverland has a separate building with a 50-person cinema and a dance studio.

Other attractions at the property include a Disney-style train station, a fire station and a barn.

Burkle’s spokesman said the billionaire has an interest in Lake Zaca, adjacent to the property, to install a new Soho House, an exclusive club such as those in Los Angeles, Miami, New York and Toronto. However, in the long run he decided that the place was too far away and expensive for a club.

Burkle is the majority shareholder of Soho House.

After seeing Neverland in the air, he made an offer to buy.