Jay-Z and Beyonce made a historic purchase recently when they spent $200 million on a Malibu mansion — the most expensive home to ever be sold in California.
While the pair spent a literal fortune on the concrete mansion, it’s a good deal considering they got nearly $100 million knocked off the asking price before locking it in. The couple bought the home from art collector Bill Bell Jr, who took over a decade to construct the custom build from the ground up. He originally listed it for $295 million.
With 30,000 square feet of living space, the home was designed by famed architect Tadao Ando (who’s currently constructing a $58.3 million mansion for Kanye West in Malibu).
Bey and Jay’s new abode is located in the infamous Billionaires’ Tow, featuring views of the Pacific Ocean as well as Paradise Cove. In total, the property comes with 8-acres of land.
This isn’t the only luxury mansion the couple own in the area. They also have a Bel-Air estate, which they bought in 2017 for $88 million. The home is now reportedly worth over $100 million after the pair invested in various renovations.
The couple’s Bel-Air mansion also features 30,000 square feet of living space, which includes 11 bathrooms and 8 pools. Sitting on 8 acres, the home has 4 pools, a basketball court, and a tennis court. It’s other amenities include a recording studio. Plus, it came fully furnished.
Beyonce and Jay-z’s latest investment may be the most expensive real estate purchase in California’s history, but it’s not the priciest in all the country. A Central Park South high-rise sold to hedge fund founder Ken Griffin in 2019 for $236 million, the most expensive real estate transaction in United States history.
Perhaps what was most surprising about Ken’s purchase was that it was part of a larger $700 million shopping spree. Around the same time, the billionaire dropped $200 million to buy land in Palm Beach, Florida to construct a custom build. He also bought property in London, England for $122 million, which was the city’s most expensive real estate sale in a decade at the time.
Though there’s nothing to suggest Jay-Z and Beyonce are shopping around for more property, their real estate portfolio is becoming big enough to compete with Ken’s collection.