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Business News›News›International›Global Trends›Michael Jackson’s Neverland Ranch was listed for $100 million but sold for only $22 million: All about the 2,700-acre estate he never returned to

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Michael Jackson’s Neverland Ranch was listed for $100 million but sold for only $22 million: All about the 2,700-acre estate he never returned to
Synopsis

Michael Jackson's famous Neverland Ranch was sold to billionaire Ron Burkle for $22 million. But the property was listed for $100 million in 2015 but it languished on the market for more than five years even after multiple price cuts. Michael Jackson never returned to the 2,700 acre ranch after an investigation led to his criminal trial.

Michael Jackson's famed Neverland Ranch was sold to billionaire Ron Burkle for $22 million after more than five years on and off the market. The house was rebranded was 'Sycamore Valley Ranch' and was listed for $100 million in 2015 but was not sold despite multiple price cuts.



Long before it became famous, the Santa Barbara County property was simply called Zaca Laderas Ranch. Property developer William Bone purchased the land in 1981 and renamed it Sycamore Valley Ranch. The property was transformed it into a sprawling private estate featuring a large main house, formal gardens, a stone bridge and a four-acre lake complete with a waterfall.



But a criminal trial in 2005 changed things for Jackson and he was never seen at Neverland again.

Michael Jackson's ‘California Dream House’

Michael Jackson first saw the property in 1983 while visiting Paul McCartney, who was staying there during the filming of the Say Say Say music video. According to Jackson’s sister La Toya, the singer was impressed by the estate and said he hoped to own it someday.

Neverland Ranch. Image Credit: John Wiley/Wikipedia

That opportunity came five years later. In 1988, Jackson purchased the property for about $19.5 million, according to NBC News. After becoming its owner, he gave the estate a new name: Neverland, inspired by the fictional island in Peter Pan where children never grow up.

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A 2,700 acre estate with orangutans, chimpanzee

Michael Jackson completely transformed the property into something resembling a private theme park rather than a usual home. The estate featured a French country-style main house, a movie theatre, a train station and a full amusement park complete with a giant Ferris wheel, carousel and bumper cars.

Michael Jackson first saw the property in 1983 while visiting Paul McCartney

According to NBC News, the 2,700-acre estate also included a private zoo that housed elephants, a giraffe, orangutans and Jackson’s beloved pet chimpanzee, Bubbles. Another notable feature was Katherine Station, named after his mother and marked by a large floral clock.



But things took an ugly turn in 2023 when authorities raided the property as part of an investigation that ultimately led to the singer's criminal trial. Though he was acquitted on all charges, he never lived at Neverland again.



After the death of Michael Jackson in 2009, the estate started facing financial problems with famous rides being gradually removed and sold off. Later on, some of them were seen at fairs and amusement parks in the United States.



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The 2,700-acre property eventually returned to its old name, Sycamore Valley Ranch, and went up for sale in 2015 at an asking price of $100 million, according to Vogue. But after more than five years on and off the market, the property was sold for just $22 million, to billionaire businessman Ron Burkle, a longtime family friend of the Jacksons. According to a report by AFP, Burkle's spokesperson said he bought it "as a land banking opportunity."

Other properties of Michael Jackson

Michael Jackson owned and stayed at several notable properties beyond his famous Neverland Ranch. In Los Angeles, he spent considerable time at Hayvenhurst Estate in Encino, the Jackson family compound that remained an important base for him throughout his rise to fame.



In his later years, Jackson often lived in luxury rentals and private residences in the US and abroad, including properties in Beverly Hills and Las Vegas. He also spent time in Bahrain, where he stayed in private villas reportedly arranged through his connections with the Bahraini royal family after leaving the United States.



During the height of his career, Jackson also frequently stayed in luxury hotel penthouses while traveling for tours and other professional commitments. These accommodations often involved extensive security and privacy measures.

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