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California News: Michael Jackson’s Neverland Ranch sold to billionaire for $22 million

California News:  Michael Jackson’s Neverland Ranch sold to billionaire for  million

The 2,700-acre property near Santa Barbara was sold for $22 million.

Originally named Zaca Laderas Ranch, the estate was renamed Sycamore Valley Ranch shortly after it was purchased by property developer William Bone in 1981. In 1988, the ranch was sold to Jackson, who renamed it after Neverland, the fantasy island in the story of Peter Pan, a boy who never grows up. Jackson’s first encounter with the ranch came when he visited Paul McCartney, who was staying there during their filming of the “Say Say Say” video in 1983. According to La Toya Jackson, Michael expressed interest to her in someday owning the property at that time.

Following Jackson’s death in 2009, the estate was put up for sale in 2015. In 2020, after several price drops, billionaire Ronald Burkle purchased the property for $22 million.

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