Amid his wild social media rants, troubles with his wife, and his controversial albums, Kanye West is taking a financial loss.
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On Monday, the rapper’s abandoned mansion was purchased by a luxury home developer for $30 million, nearly $27 million less than what Ye bought it for in 2021, according to the Wall Street Journal.
With the news of the home being sold, it’s the perfect time to revisit what went down with the Chicago rapper’s former Malibu residence.
Ye Purchases his Malibu Home
In 2021, the controversial rapper reportedly paid $57 million for his Malibu home. The purchase was around the time he and Kim Kardashian split.
Famous Architect
The home was designed by world-renowned Japanese architect Tadao Ando.
Beyonce
Ando is a household name in the architectural world. He also built Beyonce and Jay-Z’s $200 million home.
Renovation?
According to Forbes, shortly after Ye, formerly known as Kanye West, purchased the home, he began taking it apart. He reportedly removed the windows, doors and all of the furniture.
Renovation Still Underway
In 2022, Ye was reportedly still renovating the house. But neighbors told TMZ that it had been “left to rot” and that they hadn’t “seen anyone around for many months.”
Antisemitic Comments
Around the same time that neighbors complained to TMZ about the house, Ye’s financial situation took a major hit after he repeatedly made antisemitic comments. It’s unclear if that impacted his renovations on the Malibu home.
Lawsuit over Renovations
Lawsuit Cont.
The contractor, Tony Saxon told Sky News that he was owed $1 million in unpaid labor.
Lien on Home
According to Business Insider, Lawyers representing Saxon filed a lien on the property in January. They told the outlet that a “sale cannot happen without Tony being paid.”
Selling Sunset Cameo
Ye employed the help of Selling Sunset star and real estate agent, Jason Oppenheim to sell the home.
Jason Oppenheim on the House
Oppenheim for his part said he was thrilled to join the project. He told TMZ that he wasn’t worried that the home was completely gutted because it would give the new owners a blank canvas.
Ye Lists The House for $53 Million
Ye originally listed the un-renovated home for $53 million, according to the Wall Street Journal.
The Home Sits
Surprisingly, no one wanted to buy the home that was missing windows, doors ,and electricity.
Ye Slashes The Price
In April 2024, Ye slashed the cost of the house, according to Forbes, listing it for $39 million.
Ye’s Losses
In March, the house was sold for $30 million to luxury home developer Andrew Mazzella, who has plans to eventually resell the home for nearly $65 million, according to the .
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