A billionaire businessman has bought Michael Jackson's Neverland Ranch in California. The property sold for a fraction of the initial $100 million asking price.
Advertisement
Michael Jackson's notorious Neverland Ranch has finally sold more than 10 years after his death at a fraction of the initial listing price.
Billionaire investor Ron Burkle recently bought the 2,700-acre (10.9-square-kilometer) California ranch, his spokesman said Thursday. Burkle was an associate and family friend of the late pop star.
The Wall Street Journal newspaper said the estate, renamed Sycamore Valley Ranch several years ago, sold for $22 million (€18 million), according to public records. The ranch was initially listed at $100 million in 2016 and was relisted at $67 million a year later.
The estate features a 12,500 square-foot (1161 square-meter) residence, a 3,700 square-foot pool house and a separate building with a 50-seat movie theater and a dance studio. The ranch also has a "Disney-style" train station, a fire house and barn.
Burkle's spokesman said the investor saw the property from the air before putting in an offer to purchase. Burkle views the investment as a land banking opportunity.
Jackson bought the residence in 1988 for $19.5 million but handed over the title to Colony Capital LLC due to financial troubles. The ranch was the pop singer's favorite retreat, but he abandoned the property following his 2005 trial on charges of molesting a young boy there.
Revisiting Michael Jackson's legacy
He left his glove print on an entire generation. As a troubling documentary on Jackson's alleged sex abuse of children revives the debate on the "King of Pop," who died in 2009, we take a look at his legacy.
Image: picture-alliance/empics/Yui Mok
Tremors around the world
On June 25, 2009, news broke that Michael Jackson — the "King of Pop" — was dead. He had just announced his global farewell tour, "This Is It." Jackson was one of the most successful entertainers of all time. Nearly every album he released set some sort of record, and he received 13 Grammy Awards, the music industry's highest honor.
Image: picture-alliance/empics/Yui Mok
Not a happy childhood
Michael Joseph Jackson was born on August 29, 1958, in a ghetto in Gary, Indiana. At first, he grew up with his five brothers and three sisters in poverty. Later, he would bitterly complain that his childhood was sacrificed to show business. His manager and father, Joe Jackson, who died on June 28, was particularly hard on his children.
Image: Express Newspapers/Getty Images
The Jackson Five
Joe Jackson didn't waste any time training his children for stardom. At age five, Michael took the stage for the first time with his brothers Jermaine, Tito, Marlon and Randy. The boy group won one talent show after the other, thanks in no small part to Michael's performances. In 1969, the group got a record contract with the legendary soul label Motown. Michael turned 11 that year.
Image: Frank Barratt/Getty Images
Breakthrough
In 1982, Michael Jackson released the solo album that would take his stardom to practically unknown heights. "Thriller" became one of the biggest hits in music history, selling more than 108 million copies and solidifying the 24-year-old's reputation as the "King of Pop." Follow-up releases "Bad" and "Dangerous" sold 30 million and 15 million copies, respectively.
Image: picture alliance/dpa
The 'new' Michael
Meanwhile, the "King of Pop" was visibly changing. He had his first cosmetic surgery in 1979 after breaking his nose in an accident. His skin tone grew lighter and lighter. He insisted he was proud to be black and suffered from a pigment disorder. The singer also appeared in public more and more frequently with a surgery mask on, claiming he was afraid of infectious diseases.
Image: imago/paulrose
Refuge at Neverland
In 1988, Jackson bought a ranch in California, naming it after the home of Peter Pan where children never grew up. He had an amusement park, a zoo and a movie theater built on the site. It offered a place for children suffering from illness or social problems to come stay and play. His beloved chimpanzee Bubbles was always in attendance.
Image: Jason Kirk/Getty Images
True love or just an act?
In 1994, the "King of Pop" married the daughter of the "King of Rock": Lisa Marie Presley. Their marriage lasted just 20 months, and speculation mounted that it was just a show for the media. Presley later said she was completely in love with him but didn't want to be part of his "PR machine." Their first public kiss, she said, was arranged by Jackson's manager.
Image: AFP/Getty Images
Finally a father
After his divorce to Presley, Michael Jackson married Debbie Rowe, a nurse. Their nuptials were reportedly arranged based on the singer's wish for children. Rowe gave birth to Prince Michael I and Paris. Jackson said a third child, Prince Michael II, was born to a surrogate mother. He had sole custody of all three children.
Image: picture-alliance/dpa
Success on tour
In 1996-97, Michael Jackson went on his final world tour as a solo artist. With "HIStory," he performed 82 concerts in 58 cities for more than 4.5 million fans. It took him back to his big successes from the 1980s, and his legendary moonwalk remained in top form.
Image: BETH A. KEISER/AFP/Getty Images
Serious accusations
Allegations of child abuse against the superstar began as early as 1994. One case didn't go to trial following a multi-million settlement with a family. In 2003, new allegations emerged. Although Jackson was acquitted in 2005, his reputation was ruined. When he left the courthouse with his mother, Katherine, onlookers saw a physically and psychologically broken man.
Image: Pool/Getty Images
Planned comeback
In March 2009, Michael Jackson made the surprise announcements of his comeback. Pre-sales for the tour "This Is It" exceeded all expectations, but there were major doubts that Jackson was physically capable of going through with the 40 planned concerts. On June 25, 2009, 18 days before the first show in Los Angeles, the world learned he had died.
Image: Getty Images
In the hot seat
Forensic doctors determined that the "King of Pop" had died of an overdose of the narcotic Propofol that his personal physician, Conrad Murray, had prescribed due to Jackson's serious sleep problems. Murray was charged in 2010 with negligent homicide. In November 2011, he was sentenced to four years in prison without parole but was released in 2013 for good behavior.
Image: Mark Boster/AFP/Getty Images
Media spectacle
On July 7, 2009, Michael Jackson's funeral was held in the Staples Center in Los Angeles. Alongside countless famous friends, around 18,000 fans and 2,000 reporters were on hand. Nearly 1 billion people watched the service live at home. The "King of Pop" was buried in a golden coffin.
Image: Kevork Djansezian/AFP/Getty Images
The heirs
His children, Prince Michael I (l), Paris (r) and Prince Michael II (not pictured), inherited a fortune running into the billions. Twenty percent of his estate was willed to go to charity. Jackson donated over $300 million during his lifetime and established his own foundation called "Heal the World." His activism even earned him two Nobel Peace Prize nominations.
Image: ROBYN BECK/AFP/Getty Images
Posthumous career
Two more albums by Jackson came out after his death. According to the US magazine Forbes, Michael Jackson's estate is said to have grown to about a billion dollars. But following the release of a bombshell documentary, "Leaving Neverland," in which two men allege the King of Pop sexually abused them, will fans still continue to make pilgrimages to his grave?