UNITED STATES - NOVEMBER 22: Michael Jackson's Neverland Ranch near Santa Barbara, Calif. (Photo by John Roca/NY Daily News Archive via Getty Images) LOS ANGELES - Michael Jackson’s Neverland Ranch in California has found a new owner in billionaire businessman Ron Burkle.Burkle views the 2,700-acre property in Los Olivos, near Santa Barbara, as a land banking opportunity, his spokesman said Thursday in an email.The Wall Street Journal reports the property was sold for $22 million to Burkle, an associate of the late pop star and co-founder of the investment firm Yucaipa Companies.The asking price of the property was $100 million in 2016 then dropped to $67 million a year later.LOS OLIVAS, SANTA YNEZ, CA - MAY 2004: Michael Jackson ranch, he.