Kanye West Sells Malibu Home for $36 Million Loss
Kanye West. (Photo by Brad Barket/Getty Images for Fast Company) Kanye West has taken a $36 million loss on his Malibu home, selling it for $21 million just three years after buying it. The rapper, 47, originally purchased the oceanfront property for $57.3 million in 2021 before gutting it with plans to completely overhaul the home. California-based real estate crowdfunding firm, Belwood Investments, snapped up the home for the slashed price, The Real Deal first reported on Thursday, August 22. “We are incredibly excited about the acquisition of this property,” said Belwood founder and owner Steven “Bo” Belmont via a press release. “This is not just a phenomenal real estate investment; it is an opportunity to revitalize and preserve an architectural gem by the renowned Tadao Ando , ensuring it remains a jewel of Malibu. This acquisition exemplifies Belwood Investments’ commitment to transforming properties with historical and architectural significance while delivering excep...