Via: pinterest.com
Beyonce and Jay Z are some of the celebrities that were suspected of planning to buy the property. However, years have passed already and the house still hasn’t found an owner. Back in 1987, it was bought for $19,500,000 – according to some sources, it cost MJ a whopping $3,000,000 A YEAR to maintain the property. Now, some estimate the value to be a meager $35,000,000, but it’s not a probable reckoning. As mentioned, Colony Capital LLC invested a big sum of money in MJ’s debt back in 2008, not wishing for the property to go to waste. Their shares went increasing as they put more and more resources into the ranch as Jackson’s contribution lessened. According to Forbes, Colony Capital might have invested as much as $50,000,000 in the ranch, but in 2014 they decided to sell it.
