In May 2023, Beyoncé and husband Jay-Z purchased a $200 million dollar Malibu home overlooking the Pacific Ocean, inking the most expensive real estate deal in California history, according to TMZ.
The sprawling six-acre compound sits along the Pacific Coast Highway in Malibu’s Paradise Cove neighborhood, an exclusive stretch of real estate dubbed “Billionaires' Row.” The zip code is shared by the likes of Apple designer Jony Ive, Oracle CEO Larry Ellison, and venture capitalist Marc Andreessen–whose lavish $177 million dollar estate formerly held the record for priciest listing in the state.
Supplanting their new neighbor, the Knowles-Carters’ nine-figure closing now takes the cake as the second-most expensive home purchase in American history (the top being $238 million for an NYC apartment). Kurt Rappaport of Westside Estate Agency represented both parties.
Beyoncé accepts award for Renaissance at the 2023 Grammys.
The seller is renowned art collector William Bell, son of the creator of American soap operas The Young and the Restless and The Bold and the Beautiful. Bell, who bought the property in 2003 at $14.5 million, spent over 15 years completing the 30,000 square feet compound–designed to showcase his legendary art collection.
The home holds architectural significance as one of only a few private residences designed by Pritzker Prize-winning Japanese architect Tadao Ando in the United States. (Another being fashion designer Tom Ford’s Santa Fe ranch, Cerro Pelon, which Aldo completed in 2012.) Ando is credited with popularizing the "haiku" effect, using empty space to emphasize the beauty of zen aestheticism and pure geometry. His non-residential work in the U.S. includes the Pulitzer Arts Foundation in Missouri and the Modern Art Museum of Fort Worth.
Japanese architect Tadao Ando posing at the National Art Center in Tokyo.
Shortly after her ex-husband purchased an Ando-designed Malibu beach house, Kim Kardashian enlisted the esteemed architect on two new projects for herself: a lakeside lodge and a “spaceship-inspired” Palm Springs vacation home she describes as “concrete, gray-toned, really zen” in a 2022 Vogue interview. Kardashian recently flew to Japan to meet with Ando.
While Ando’s stark aesthetic is becoming a status symbol among the celebrity set, the Beyoncé hive isn’t so sure. “Just because you can, doesn’t mean you should,” one commenter wrote of the L-shaped compound. “It looks like a corporate park in Arkansas” said another, while someone else likened the home’s stark geometries to “one of those shipping container homes.” Others are simply in sticker shock: “Sounds like the seller snagged the deal.” “The property taxes on that thing must be insane!”
Though not everyone’s cup of tea (according to the contractor, the home is made up of 7,645 cubic yards of concrete–so, not exactly “cozy”), it makes sense that the business and entertainment moguls would be drawn to the simple, art-forward design. Beyoncé and Jay Z’s private collection is extensive, including works from Damien Hirst, Jeff Koons, Mark Rothko, and a Tiffany-blue Basquiat.
Plus, it seems the Knowles-Carters got a bit of a deal on the home, originally listed for an eye-watering $295 million. Beyoncé, who’s on track to net $2 billion from her international Renaissance tour alone, has yet to announce the family’s move-in date.
FAQs
Record-setting Malibu megamansion
How much did Beyoncé and Jay-Z pay for their house? ›
Although the sale of luxury homes across the country was down in 2023, the musical couple set the all-time purchase sales record in California, when they bought a $190 million mansion in Malibu.
What is the record home sale in Malibu? ›
In a historic deal, Oakley founder James Jannard has sold his Malibu mansion for $210 million. It's the priciest home sale in California history. The blockbuster sale, which The Times is reporting exclusively and based on real estate records, ups the ante on what a house can fetch in the Golden State.
Who sold a home in Malibu for $177 million setting a new California record? ›
Malibu is now the site of the three most expensive homes in all of California: Jannard's recently sold mansion, Jay-Z and Beyoncé's property and an estate in the ritzy seaside community's Paradise Cove neighborhood bought by billionaire venture capitalist Marc Andreessen for $177 million in 2021.
Who is Beyoncé's real estate agent? ›
Kurt Rappaport: Real estate agent to the stars
When Jay-Z and Beyoncé broke a California record by dropping $200 million on a Malibu mansion last year, a familiar name was front and center on the deal: Kurt Rappaport.
Who owns the most expensive house in the world? ›
So, who owns the most expensive house in the world? The answer is the British royal family, as the building has served as their official residence since 1837. The palatial royal home spreads across 8,30,000 sq ft, comprising of 775 rooms, 92 offices, 188 staff bedrooms, 78 bathrooms, and 19 staterooms.
How much money does Beyoncé have in the bank? ›
According to Forbes, Beyoncé's net worth, as of December 2023 was about $800 million. As of April 2024, Celebrity Net Worth listed the singer's wealth a little lower at $600 million. Unlike some entertainers, who take on lucrative side hustles, album sales make up the bulk of Beyoncé's fortune.
Who owns the largest mansion in California? ›
Fashion Nova founder and CEO Richard Saghian bought The One Bel Air, a 105,000-square-foot megamansion in Los Angeles, in 2022 for $126 million. With fees and commission, his total price came out to about $141 million. The property hit a few snags on the road to its big-ticket sale.
Who owns the 295 million dollar house in California? ›
The buyer of the Bel-Air mega mansion dubbed 'The One' has been revealed to be none other than Fashion Nova CEO Richard Saghian days after the estate sold well below its asking price at auction.
Who bought the $500 million dollar house in LA? ›
It did not receive an offer and went to a bankruptcy auction in March 2022, where it sold to Richard Saghian, the CEO of Fashion Nova, for $126 million plus a 12 percent commission to the Concierge Auctions that raised his total investment to $141 million.
If you need to sell two of your four homes outside of Los Angeles, you could reach out to Kardashian Realtor Tomer Fridman at Compass because he will have experience on the matter.
What state does Beyoncé live in? ›
After growing up in a 3,000-square-foot home, she and her husband Jay-Z broke a record last year after acquiring a 30,000-square-foot compound in California that's perfect for hosting family functions.
How big is Beyoncé's new house? ›
At 40,000 square feet, Jay-Z and Beyoncé's massive home has earned mansion status eight times over in square footage alone. The property is on Malibu's celebrity-filled Paradise Cove and includes an eight-acre bluff that overlooks the pearlescent Pacific Ocean.
How much did Beyoncé get paid for hotel? ›
Beyoncé was reportedly paid over $24 million for the show, making it the highest-paying private concert in history, according to Forbes. The ballad-heavy show was part of a three-day launch event for the hotel, in which journalists, celebrities, and influencers were invited.
Do Jay-Z and Beyoncé live in the same house? ›
The Songbird Shares Three Homes With Jay-Z.
How much does Jay-Z pay Beyoncé? ›
Beyoncé and Jay-Z supposedly signed a prenup that grants her $10 million if they divorced before two years and an additional $1 million for every year of marriage, up to 15 years, reports Business Insider.
