Billionaire investor Ron Burkle, a former family friend of Jackson, recently bought the sprawling 2700 acre (1100 hectare) estate, his spokesman said on Thursday.
The Wall Street Journal said the estate, which was renamed Sycamore Valley Ranch several years ago, sold for $US22 million (approx $NZ31m) according to public records. In 2015, the asking price was $US100m and in 2017 it was re-listed for US$67m.