Jay-Z and Beyoncé Break Records with $200 Million Cash Purchase of Malibu Estate
Music industry powerhouses Jay-Z and Beyoncé have reportedly made a record-breaking cash purchase of a $200 million estate in Malibu, California, according to sources cited by TMZ on Monday.
This grand acquisition marks the highest-priced home ever purchased in California's history, and the second most expensive in US real estate history, only trailing a New York City apartment that fetched a staggering $238 million.
The concrete-based property, previously owned by esteemed art collector William Bell, was acquired by the Carters. Bell, known for his exceptional art collection, took almost 15 years to construct the mansion.
This sprawling 30,000-square-foot estate was meticulously designed by renowned Japanese architect Tadao Ando, who is also credited with the design of the $57.3 million mansion Kanye West purchased during his divorce proceedings with Kim Kardashian.
Despite the Carters' purchase being perceived as extravagant by some, the couple managed to secure a fantastic deal for the property, originally listed at $295 million. They appeared unfazed by the criticism and were spotted celebrating their new acquisition at a dinner in London.
During a recent night out in London's upscale district Mayfair, Beyoncé, 41, and Jay, 53, were seen leaving Harry's Bar after an enjoyable dinner. According to sources, the couple shared a "delectable soufflé" with billionaire entrepreneur Nassef Sawiris. Beyoncé looked effortlessly stylish in a bejeweled black mini dress and overcoat, while Jay-Z opted for an all-black outfit complemented with white sneakers.
The couple, often dubbed as the "Crazy in Love" duo due to their iconic collaborative track, boast a significant real estate portfolio beyond their new Malibu home. In 2017, they purchased an $88 million home in Bel-Air and a $26 million mansion in the Hamptons.
With a combined net worth of nearly $3 billion, with Beyoncé accounting for $450 million and Jay-Z at a whopping $2.5 billion according to Forbes, the Carters' latest investment further solidifies their status as a financial powerhouse.
The couple, who share three children, Blue Ivy, 11, and twins Rumi and Sir, 5, tied the knot in 2008 and have consistently dominated both the music scene and the real estate market with their significant purchases.