Beyoncé and Jay-Z, the iconic musical duo, have made headlines once again, this time by breaking California’s real estate price record. The power couple recently acquired a magnificent 40,000-square-foot mansion in Malibu that offers breathtaking views of the Pacific Ocean. Reports suggest that the couple purchased the property for a staggering $200 million, surpassing the previous record set by billionaire venture capitalist Marc Andreessen, who spent $177 million on a neighboring residence in 2021.
TMZ, citing insider sources, reveals that the mansion is a stunning example of minimalist design, featuring concrete and glass elements. The property was initially bought for $14.5 million in 2003 by art collector William Bell. Over the course of 15 years, Bell enlisted the renowned Japanese architect Tadao Ando, recipient of the prestigious Pritzker Prize, to transform the L-shaped mansion into an architectural masterpiece. The result is a series of interconnected structures with expansive hallways and an open floor plan. While the property is seldom seen in photographs, it boasts an array of luxurious amenities such as patios leading to a swimming pool, a cabana, and a sprawling, meticulously manicured lawn perched on a cliff, providing a breathtaking view of the beach. Situated in the exclusive Paradise Cove enclave, known as Billionaires’ Row, this mansion has become a symbol of opulence and luxury.
Interestingly, Beyoncé and Jay-Z managed to acquire the property at a considerable discount. Initially listed discreetly for $295 million, it was exclusively shared with a select group of qualified buyers. The power couple’s real estate portfolio already includes a similar mansion in Bel-Air, which they purchased for $88 million in 2017.
Notably, the most recent transaction was facilitated by Kurt Rappaport from Westside Estate Agency, who represented both the sellers and the buyers, according to TMZ.
It’s worth mentioning that Tadao Ando, the esteemed architect responsible for the transformation of Beyoncé and Jay-Z’s new residence, is also involved in designing a home for another music industry titan, Kanye West, in Malibu.
With their latest real estate acquisition, Beyoncé and Jay-Z continue to make waves in the world of luxury property ownership. Their discerning taste and eye for extraordinary design have once again solidified their status as trendsetters in both the music industry and the world of high-end real estate. Additionally, it features lush landscaping that provides ample privacy from prying eyes. Whether their new home will be used for entertaining friends and family or simply to escape the hustle and bustle of life in the city remains to be seen.