Billionaire Buys Michael Jackson's Neverland Ranch for $22 Million
Image via Getty / George Rose
Neverland Ranch, the former home of the late Michael Jackson, was sold to a billionaire for $ 22 million after being listed for $ 100 million in 2015.
The ranch was sold to Ron Burkle, according to the Wall Street Journal, who in a report on Thursday cited public records and several people familiar with the details of the deal. Burkle is a co-founder of the private investment firm Yucaipa Companies. He also worked closely with Jackson in the years leading up to his death in 2009. TMZ described him as the singer's "former corporate advisor" in a separate report.
Earlier this month, Michael Jackson's mansion won a win related to a lawsuit over the 2019 documentary, Leaving Neverland. The estate previously argued that the documentary was in violation of a decade-old non-degradation clause from a 1992 concert film, and HBO replied by arguing that the clause in question was not relevant to Leaving Neverland. HBO also argued that the property was trying to silence alleged sexual abuse victims.
Per Variety, a three-person jury upheld a lower court ruling that allowed the estate to arbitrate the dispute.
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