Jay-Z and Beyoncé’s Real Estate Record Destroyed by Oakley Founder
JAY-Z and Beyoncé’s record-breaking California real estate purchase has been surpassed by Oakley founder James Jannard, who sold his Malibu home for a staggering $210 million.
This sale has set a new record for the most expensive real estate transaction in California, eclipsing the $200 million the celebrity power couple spent on their Malibu estate just last year.
Jannard, who has owned the mansion for over a decade after buying it for $75 million in 2012, sold the luxurious property, which boasts eight bedrooms, 14 bathrooms, and 9.5 acres of land with 300 feet of oceanfrontage.
In 2022, JAY-Z and Beyoncé made headlines with their purchase of a 30,000-square-foot Malibu property, designed by the renowned architect Tadao Ando. This acquisition added to their impressive real estate portfolio, which includes an $88 million Bel-Air mansion bought in 2017 with a $52.8 million mortgage. The monthly mortgage payments for this property amount to $252,075 over 30 years at a four per cent interest rate. Their Bel-Air estate features a full-sized basketball court, four outdoor swimming pools, a spa, and staff quarters across its expansive two-acre grounds.
The couple had been seeking a home for three years, often getting outbid before finally securing their Bel-Air mansion. During their search, they rented an L.A. mansion for $150,000 per month. Their Malibu purchase last year also surpassed the previous record set by David Geffen’s $85 million Malibu purchase, making it the sixth-largest single-family home sale in Los Angeles.
In addition to their real estate investments, JAY-Z and Beyoncé have also splurged on luxury vehicles. In 2021, they acquired the world’s most expensive car, a $28 million Rolls-Royce Boat Tail convertible. This custom-built car, designed for the Mediterranean backroads of the French Riviera where the couple often vacations, features a rear deck with a picnic set and a double refrigerator for chilling champagne bottles. It also includes two-sided timepieces from Bovet 1822 that can be worn or used as car clocks.
