Michael Jackson Estate 'Neverland Ranch' Sells for $22 Million

Michael Jackson's former estate has had a hard time finding a buyer in the last six years, having once been on the market for $100 million.

According to CNN. the owner of the Pittsburgh Penguins, Ron Burkle, has purchased Neverland Ranch for $22 million; the lastest listing price in 2019 was $31 million.

The pop icon bought the 3,000-acre estate in 1987 for $19.5 million. It has 22 structures; with the main house having 12,000 square feet of space, where Michael Jackson lived for 15 years.

The property went on sale five years after Jackson's death for $100 million; but there were no takers, forcing the price to drop several times to the current price of $22 million.

Get more on the sale of Neverland Ranch from CNN HERE.