Neverland Ranch, former home of Michael Jackson, has been sold to billionaire, Ron Burkle, for $22 million after previously being listed in 2015 for $100 million.
Burkle is co-founder of private investment firm Yucaipa Companies. He also worked with Jackson before his death in 2009, as a "former business advisor".
Following the 2,700-acre property's $100 million listing in 2015, several price drops followed, including a $31 million asking price in 2019. Jackson purchased the ranch for $19.5 million in 1987.