Kanye Invests $57 Million In Malibu Home Despite Ongoing Financial Crisis
Kanye West is reportedly experiencing a variety of financial problems, from declining sales and cancelled partnerships to a handful of multi-million-dollar lawsuits.
However, that didn’t stopped Kanye from dropping$57.3 million on a Malibu mansion. The rapper technically got a good deal, considering the property was originally listed for $75 million in 2020.
The property has 4,000 square feet of living space, which may seem small given the huge price tag. However, the cost is largely explained by the home’s designer, Japanese architect Tadao Ando, whose only designed a handful of properties in the United States.
The concrete home comes with 4 bedrooms and 4.5 bathrooms. Situated directly on the beach, the property features sprawling ocean views.
Kanye owns a multitude of properties in the area, including a house he purchased directly across the street from the mega mansion he constructed with his then-wife Kim Kardashian. She kept the property following their 2022 divorce.
The musician appears to want to spend most of his time in California, especially give his recent purchase. He even listed two of his Wyoming properties last year. However, it was previously reported that Kanye’s financial problems were preventing him from pursuing his real estate projects.
Following a series of controversial behavior, Ye lost a number of big collaborations, including his long-time Yeezy partnership with Adidas, which resulted in him losing his billionaire status.
In November, it was reported that Kanye had stopped renovations on one of his Malibu homes, with speculation suggesting it was due to limited finances.
Then, in February, it was reported that Kanye’s $2.2 million LA ranch had been left dilapidated. Ye previously got in trouble in 2019 after beginning construction without the proper permissions. Now, it seems he’s abandoned the property completely, due to the state aerial photographs showed it in.
Even Kanye’s businesses have been in trouble amid his financial woes. In December, Yeezy was evicted from its headquarters for owing $63,000 in unpaid rent.
Moreover, Kanye is involved in a variety of lawsuits, even some launched by his former team members. He’s currently facing a $250 million defamation lawsuit filed by George Floyd’s family as well as a million-dollar case made by his ex-manager who claims wrongful termination. Kanye’s legal team even quit after they said the rapper was impossible to get a hold of.
Sources: TMZ,
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