'Sexual Assault Location?' Neverland, Which Haunted Michael Jackson in Life, Sold at a Bargain Price

Michael Jackson [Reuters=Yonhap News archive photo] [Image source = Yonhap News]

[Asia Economy Reporter Choi Eun-young] The mansion of American pop star Michael Jackson, who passed away in 2009 due to a drug overdose, was sold at a 'bargain price' roughly one-quarter of the original asking price.

On the 24th (local time), foreign media including BBC reported that the mansion known as 'Neverland Ranch,' located in Los Olivos, California, was sold to Ron Burkle, a former friend and investor of Jackson. Burkle's net worth is estimated by Forbes, a business magazine, to be $1.4 billion (approximately 1.05 trillion KRW).

The 1,100-hectare mansion was purchased by Jackson in 1987 for $19.5 million (about 21.9 billion KRW) when his popularity was at its peak.

Jackson bought a large ranch (11 square kilometers) in Santa Barbara, California, and built the mansion, naming it 'Neverland' after the island in the children's fairy tale 'Peter Pan.' He developed the estate into a massive amusement park similar to Disneyland, installing various rides, a zoo, and railroad tracks. He often invited children into the estate.

However, in the 1990s and 2000s, Jackson was accused of sexually abusing children at this location, tarnishing its reputation as a site of child sexual abuse.

2003 Michael Jackson's mansion 'Neverland' exterior view [GETTY IMAGES NORTH AMERICA / AFP=Yonhap News Agency archive photo][Image source = Yonhap News Agency]

In 2005, a 13-year-old boy accused Jackson of molestation at the mansion, but after a lengthy trial, Jackson was acquitted. Afterward, Jackson left the estate and lived in a residence in Los Angeles until his death from a drug overdose four years later in 2009.

Following Jackson's death, a documentary titled 'Leaving Neverland' raised further allegations, worsening the public perception of 'Neverland.' After Jackson's passing, all amusement facilities on the property were dismantled, and it was renamed 'Sycamore Valley Ranch,' with redevelopment reportedly underway.

In 2015, the property was first listed for sale at $100 million (about 110.3 billion KRW). The price was reduced several times, falling to $31 million (about 34.2 billion KRW) last year, and was eventually sold at a bargain price of $22 million (about 24.2 billion KRW) to Burkle, a longtime friend of Jackson.

Burkle, who purchased the property, is well known as an architecture enthusiast owning several homes in California.

This content was produced with the assistance of AI translation services.