Jay-Z and Beyoncé broke California real estate records when they bought a Malibu estate for $200 million, making them the most expensive home in state history.
The music superstar couple purchased the nearly six-acre property at 27712 Pacific Coast Highway. The seller is Bill Bell Jr., an art collector and son of the creator of the soap operas “The Bold and the Beautiful” and “The Young and the Restless.”
Kurt Rappaport of Westside Estate Agency represented both buyers and sellers, according to TMZ, which first reported the matter on May 19. Rappaport did not return calls seeking comment.
Bell commissioned renowned Japanese architect Tadao Ando to build the 40,000-square-foot concrete mansion overlooking the Pacific Ocean.
The estate was last listed in 2013, when it sold for $14.5 million.
Jay-Z and Beyoncé’s deal surpasses the previous record holder for the most expensive home in the state. Billionaire Mark Anderson bought a seven-acre Malibu estate in 2021 for $177 million. The previous record holder was Jeff Bezos’ $165 million purchase of a Beverly Hills estate in 2020.
The Bell family has also made other high-profile deals in real estate. In 2020, Los Angeles Lakers star LeBron James purchased the family’s Beverly Hills Post Office estate for an estimated $39 million.
Also in 2020, the Bell family sold a mansion worth more than $18 million in the Malibu Colonial enclave. Soap opera creator Bill Bell died in 2005. His wife and business partner, Lee Philip Bell, passed away in 2020.
Jay-Z, who has a net worth of $2.5 billion, according to Forbes, built his fortune initially on music and later on the alcohol label he founded.