Jay-Z and Beyoncé have broken a real estate record with the purchase of their new home, with the $200m deal the most expensive in California’s history, according to reports.
On Friday 19 May, it was first reported by TMZ that the celebrity couple had closed a deal on the 30,000sq-ft home in Malibu, California. The sale of the mansion, which is located in an area overlooking the Pacific Ocean known as Billionaires’ Row, marks a new record for the most expensive home ever sold in the state, after beating the previous record of $177m set in 2021, according to the outlet.
The couple are said to have gotten a deal on the all-concrete house, as TMZ reported that the home, which was designed by Japanese architect Tadao Ando, was originally listed for $295m.
The California mansion was reportedly built and previously owned by Bill Bell Jr, an art collector and son of the creators of soap operas Bold and Beautiful and The Young and the Restless, according to real estate outlet The Real Deal.
Although not much is known about the inside of the house, a Zillow listing for the estate reveals that it has six bedrooms and seven bathrooms.
Luxury real estate agent Kurt Rappaport of Westside Estate Agency reportedly represented the buyers and the seller, according to TMZ. The Independent has contacted Rappaport for comment.
On social media, the house purchase has sparked mixed reactions from fans of the singer and her husband, with some unimpressed by the mansion.
“The house doesn’t seem like it’s worth the price,” one person tweeted, while another said: “With all that money, she could have bought a prettier house.”
Someone else compared the concrete mansion to a house in the Sims, writing: “This house looks like the most simple house in the Sims 3.”
Others were critical of the exorbitant amount of money reportedly spent by Jay-Z and Beyoncé on the house, with one person tweeting: “The wealthy exhaust me,” while another said: “No person in normal society should have so much wealth.”
“I’m too broke to have an opinion,” someone else joked.
In addition to their new home, the couple, who share daughter Blue Ivy and twins Rumi and Sir, also reportedly own another mansion in California, a Bel-Air estate that they purchased in 2017 for $88m, according to TMZ.
The couple would have been able to purchase their newest house with ease, however, as Jay-Z has a net worth of $2.5bn, according to Forbes, while Beyoncé’s net worth is estimated to be $450m.
Although the purchase marks the most expensive in California’s history, it is only the second-most expensive real estate deal in the country, as that record is held by an apartment in New York City, which sold for $238m in 2019.