Golden State, TMZ reports. The nine-figure transaction shatters Marc Andreessen’s former record in California, set with his $177 million purchase in 2021, also in Malibu.
The married moguls’ new Pacific Coast Highway abode was designed by architect Tadao Ando and measures in at 30,000 square feet, plenty of space for their three children to enjoy. Its seller was art collector Bill Bell Jr., who is also the heir to a soap opera fortune, as the son of the creators of The Young and the Restless and The Bold and the Beautiful. It reportedly took Bell over a decade and a half to finish construction on the concrete property.
Between their album sales and business endeavours (Jay-Z is the founder of the Roc Nation label; Beyoncé is behind Parkwood Entertainment), the business of being Bey and Jay is a lucrative one, so the purchase shouldn’t ultimately set them back too much. Beyoncé's Renaissance tour could bring in as much as $2 billion, and Jay-Z’s net worth is $2.5 billion—more than enough to cancel out the record-breaking purchase.
Kurt Rappaport of the Westside Estate Agency represented both the buyers and seller. Per his bio on the WEA site, he’s got some practice working with big-name buyers; prior clients include Madonna, Brad Pitt, and Tom Cruise.
