Billionaire businessman Ron Burkle is the new owner of Michael Jackson’s Neverland Ranch in Santa Barbara County.Burkle, a one-time associate of Jackson and co-founder of the Yucaipa Companies investment firm purchased the 2,700-acre property in Los Olivos, near Santa Barbara for $22 million, according to the Wall Street Journal.First listed in 2016 for $100 million, the property dropped to $67 million a year later, and was down to $31 million last year.
Jackson originally paid about $19.5 million for the ranch in 1987.Named for the fantasy world in J.M. Barrie’s Peter Pan, the property includes about 22 structures, including a 12,000-square-foot Normandy-style mansion.
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