US rapper, fashion designer and entrepreneur Kanye West did not let a $36 million loss on his most recent home sale in Malibu, California, stop him from investing in the real estate market again.
The rapper, 47, recently purchased a Beverly Hills, California, mansion for $35 million, according to a report by real estate portal Realtor.com.
Property records seen by Realtor.com reveal that West purchased his new 11-bedroom, 18-bathroom mansion, situated in the gated community of Beverly North Park, through a limited liability company – the same LLC he used to purchase his $57.25 million Malibu property in 2021.
West purchased his new home in an off-market deal; the property was last put on the market in 2022, when it sold for $24.5 million, records show.
The musician’s latest property investment features a padel tennis court, pool house and a large swimming pool. The main house boasts 20,000 square feet of living space, and was built in 2000.
West appears to have closed on the property on October 25 – just two months after he sold his Malibu property at a huge loss.
The rapper purchased the oceanfront home in 2021 for $57.3 million. He then fully gutted the property, which was originally designed by Pritzker Prize-winning architect Tadao Ando, to remodel it from scratch. However, the musician abandoned his plans shortly after tearing the home apart.
West listed the property for $53 million in January 2024, enlisting celebrity agent and Selling Sunset star Jason Oppenheim to help him sell the home. In April, the price was cut to $39 million.
Three months later, the listing was updated to indicate that a sale was pending. Belwood Investments, a crowdfunded real estate investment company based in California, paid around $21 million for the home.
The musician, who legally changed his name to Ye in 2018, has a net worth of $400 million, according to wealth-tracking platform Celebrity Net Worth.
The vast majority of his earnings have come from royalties and other earnings related to his Yeezy brand and partnership with German sportswear retailer adidas. But his outspoken views and controversy have cost him many sponsors and partnerships over the last few years.
Adidas ended its nine-year business partnership with him over anti-Semitic remarks in 2022. The deal with adidas on West’s Yeezy line of trainers was worth $1.5 billion, based on a multiple of annual earnings, according to business magazine Forbes.
The Donda hit maker has full ownership and creative control of the Yeezy trainer brand, which was launched in 2015 with the adidas Yeezy trainer.
West pocketed about $150 million to $200 million in annual royalties from the fashion brand. He earned 15 per cent on the wholesale price of his trainers from adidas.
The Yeezy brand generated $2 billion per year in revenue and $250 million in profit for adidas. At the peak of West's partnership with adidas, the Yeezy brand was estimated to be worth about $4 billion to $5 billion on its own, Celebrity Net Worth said.
West, who was diagnosed with bipolar disorder after being admitted to psychiatric care in 2016, first made the Forbes billionaire list in 2020 with an estimated $1 billion fortune.
Kim Kardashian, 44, and West split in February 2021 when she filed for divorce. They share four children.
He owns about $100 million worth of real estate in the US.
Floyd Mayweather
Retired boxer Floyd Mayweather is reportedly making a big investment in Manhattan real estate.
He has gone into contract to pay $402 million for a 1,000-unit affordable housing portfolio of more than 60 buildings, according to real estate portal The Real Deal.
The multifamily deal for properties concentrated in Upper Manhattan would be one of the city’s biggest this year. A slice of the portfolio closed in October, the report said. The remainder is expected to close in the fourth quarter or early 2025.
“This purchase holds deep emotional significance for me and my family… Growing up, I used to dream about owning just one home by myself, when you work hard you can achieve anything,” the celebrity athlete said in a statement.
The precise details of Mayweather's investment aren't known. But in previous New York real estate deals made by the retired boxer, he was partnered with real estate company SL Green, as with the investments in nine skyscrapers he disclosed on a 2022 episode of the Earn Your Leisure finance podcast, according to Celebrity Net Worth.
He also partnered with SL Green to put in a bid for the upcoming Caesars Palace Times Square casino.
retired boxer
In a February 2024 Instagram post, Mayweather said his investment portfolio includes “over two dozen mortgage-free residences” across the US.
“My investment strategy has evolved over time, and with that I look to seek new opportunities and ventures,” he said.
Mayweather, 47, is estimated to have a personal fortune worth $400 million, making him the richest boxer of all time, according to Celebrity Net Worth.
He retired undefeated from his career, with 15 major world titles. Considered one of the top five best boxers of all time, Mayweather now works as a promoter of the sport.
Having boxed his way to more than $1.2 billion in career earnings, Mayweather has invested a significant portion of the money in property.
He is one of just six athletes whose career earnings have topped $1 billion. The other five are Michael Schumacher ($1 billion), Jack Nicklaus ($1.15 billion), Arnold Palmer ($1.35 billion), Tiger Woods ($1.65 billion), and Michael Jordan ($1.9 billion), according to Celebrity Net Worth.
Mayweather is the fifth highest-paid athlete of all time. “What's perhaps most impressive about Floyd's earning stats is that he managed to become the fifth highest-paid athlete ever with relatively scant endorsement earnings. By comparison, most of the highest-paid athletes in history earned the vast majority of their income through endorsement deals,” Celebrity Net Worth estimates.
LeBron James
Basketball player LeBron James is in talks to merge his TV and film production business, SpringHill Entertainment, with Fulwell 73, the British film, TV and music company behind The Kardashians and Carpool Karaoke, Bloomberg reported on November 5, quoting sources.
SpringHill has produced a mix of scripted and unscripted projects, including Space Jam: A New Legacy and the Netflix documentary series Starting 5. The company has deep relationships in sports thanks to James and his business partners.
Fulwell produces live events like the Grammy Awards and an Adele concert, as well as unscripted series.
James, 39, founded SpringHill in 2020 with his business partner Maverick Carter by combining three of their existing businesses. Nike invested in SpringHill in 2021, giving the start-up a valuation of $725 million. Other investors included Epic Games and RedBird Capital Partners.
London-based Fulwell does a lot of business in Europe, while SpringHill has been more focused on the US.
In 2021, James became the first active NBA player to join the elite billionaire’s club, with an estimated net worth of $1 billion. He currently has a net worth of $800 million, according to Celebrity Net Worth.
He is the third-highest-paid player in the NBA in terms of salary alone. His annual base salary is $52 million, the website estimated.
He is a part-owner of the Pittsburgh Penguins ice hockey team through his partnership with sports, entertainment and property company Fenway Sports Group.
In addition to the Penguins, James has been a minority owner of English Premier League football team Liverpool since 2011. His 2 per cent stake, which he purchased for $6.2 million, is now estimated to be about $49.2 million, with KPMG evaluating the club at $2.6 billion.
The Space Jam: A New Legacy star extended his contract with the Los Angeles Lakers in 2023, in a deal worth $97.1 million over two years.
