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The famous Neverland Ranch owned by the late king of pop music Michael Jackson has been sold for $ 22 million, below the price it had increased for several years, US media reported.
According to the Wall Street Journal, billionaire Ron Burkle, who had personal knowledge and was close to the late artist, became the buyer of the farm.
Neverland ranch entered the real estate market in 2015 with an estimated value of $ 100 million, but its price steadily declined in subsequent years, and in 2019 it was priced at $ 31 million.
Singer Jackson bought the property in 1987 for $ 19.5 million and named it Neverland, after the fictional Peter Pan Island (for kids), and Jackson has lived there for almost 20 years.
Jackson died on June 25, 2009 at the age of 50 of a drug overdose while preparing for a series of 50 concerts the singer was preparing to relaunch in London. The artist was buried in Los Angeles more than two months after his death on September 3.
Reuters
Reuters
Source: Novosti
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