Jay-Z and Beyoncé buy California’s most expensive home for $200million

Jay Z and Beyonce

Nick AllenTelegraph.co.uk

Jay-Z and Beyoncé have cemented their status as the unofficial king and queen of the entertainment industry by buying the most expensive mega-mansion in California for $200million (€186.4million).

The 40,000 square-foot home, which has been likened to a supervillain's lair, is made from concrete and glass, and sits on eight acres on a cliff overlooking the Pacific Ocean in Malibu.

They will be next door to – although some distance away from – the previous California record holder, billionaire venture capitalist Marc Andreessen, who paid $177million for his palatial residence in 2021.

Despite the gargantuan price tag, Jay-Z and Beyoncé appear to have secured something of a bargain. Their new home was never put on the market, instead being privately offered to uber-wealthy potential buyers with an original asking price of $295million.

The house was designed by Japanese architect Tadao Ando, who is also currently designing a home in Malibu for Kanye West.

The minimalist L-shaped structure was made with 7,645 cubic yards of concrete. It has concrete hallways and features walls of glass.

A sprawling lawn leads down to the edge of the cliff, and there is a beach below.

The residence is in an area known as “Billionaires’ Row” in Paradise Cove, Malibu, which is one the most sought-after locations in the United States.

Even mobile homes in Paradise Cove have been sold for more than $5million.

In 2017, Jay-Z and Beyoncé paid $88million for a mansion in Bel-Air, which was of a similar design.

Their new home was built over 15 years by the previous owner, art collector Bill Bell Jr, whose father created long-running US soap operas “The Young and the Restless” and “The Bold and the Beautiful”.

It is the second-most expensive home purchase ever in the United States.

The record is still held by hedge fund billionaire Ken Griffin, who paid $238million for an apartment in New York in 2019.

Last year, seven homes in the US were sold for more than $100million, and 44 went for over $50million.

The highest sale price last year was Oracle co-founder Larry Ellison’s $173million purchase of an estate in Florida, which was the most expensive ever in that state.