You don’t become one of the most famous celebrity couples on the planet without growing a combined net worth of billions (not millions), which is why it comes as no surprise that Jay-Z and Beyoncé have set a real estate record with the purchase of their new Malibu mansion.
Located on “Billionaires’ Row” overlooking the Pacific Ocean in Paradise Cove, it’s understood they shelled out US$200 million (AU$300 million) for the palatial 30,000-square-foot home, raising the bar for the highest price ever paid for a property in California.
Shockingly, despite how much the pair ended up paying for the beachfront home, they still saved nearly US$100 million on the original list price of US$295 million that the previous owners were seeking.
Situated on a spacious eight-acre block, the all-concrete residence was designed by the renowned architect Tadao Ando (who designed Kanye West’s Malibu home and is coming to Melbourne later this year), and reportedly took 15 years to build for the original owner and famous art collector William Bell.
While there are frustratingly few images of the home or its interior, you can take a closer look at some of its design details here and here.
The record-breaking deal was brokered by the celebrity real estate agent Kurt Rappaport of Westside Estate Agency, who retains the likes of Tom Cruise, Madonna and Brad Pitt on his client list.
While it’s the most expensive home ever sold in California, the record for the most expensive property ever sold in the US goes to the Citadel CEO Ken Griffin, who paid an eye-watering US$238 million (AU$357 million) for his Central Park South penthouse back in 2019.
