Kanye West's $36 Million Real Estate Disaster: Malibu House Debacle
Kanye West, known for his boundary-pushing creativity in music, fashion, and architecture, took a risky turn in real estate that ended in a staggering USD 36 million loss. The famed rapper and designer turned an award-winning architectural masterpiece into a bomb shelter-like shell—and paid the price for it.
Business Ventures - Yeezy, DONDA, Good Music, KW Foods LLC
Age - 47
Height - 1.73m
Spouse - Biance Censori
Net worth - $400m
What Happened to Kanye West’s Malibu Mansion?
In 2021, Kanye purchased a stunning USD 57.3 million beachfront property in Malibu, designed by world-renowned architect Tadao Ando. The minimalist concrete structure was a marvel, featuring 1,200 tonnes of concrete, 200 tonnes of steel, and innovative design elements allowing natural light to fill the space. However, Kanye wasn’t satisfied with the interiors.
He reportedly stripped the house down to its bare bones, removing windows, doors, plumbing, and essential interior finishes. What remained resembled a bunker rather than a luxury mansion.
Why Did Kanye West Destroy the Malibu House?
Kanye’s admiration for Tadao Ando's architectural work inspired the purchase, but his desire for personalisation led to drastic changes. Rumours suggest Kanye intended to transform the space into a completely unique environment that matched his artistic vision. However, midway through, he seemingly lost interest and abandoned the project.
The partially destroyed house was listed for an astronomical USD 53 million. Unsurprisingly, there were no takers.
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Who Bought Kanye West’s Malibu Property?
After struggling to find a buyer, Kanye enlisted Jason Oppenheim from Netflix’s Selling Sunset. Even with a reduced price of USD 39 million, the listing didn't attract immediate interest. Finally, Belwood Investments purchased the property for just USD 21 million—a USD 36 million loss for Kanye.
Belwood’s CEO, Bo Belmont, announced plans to invest an additional USD 5 million to restore the house to its original glory. Once completed, the property is expected to fetch around USD 40 million.
Where Does Kanye West Live Now?
Following his divorce from Kim Kardashian, Kanye retreated to his ranch in Wyoming. The rural environment offers the peace and privacy the rapper seems to crave. Although he occasionally spends time in Los Angeles for business and family, Wyoming remains his primary residence.
