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Kanye West Loses An Eye-Watering $36 Million After Selling Malibu Home

August 27, 2024 by newhiphopnews

Kanye West has picked fights with lots of artists and organizations. He dropped a Drake diss a few months back. He also aired out his dirty laundry with Atlantic Records after complications arose for the VULTURES 2 release. An underrated fight, though, is between Kanye West and the Malibu property that he’s been trying to get rid of for years. The rapper bought the estate in 2021, but the renovations and changes he’s made have made the property increasingly undesirable for buyers. It’s finally been taken off his hands, but West had to take a staggering $36 million loss in the end.

Belwood Investments issued a statement confirming the sale on August 27. The company confirmed that they purchased the Malibu property for $21 million. A sizable chunk of change for most of us, but a total steal given the original asking price. Uproxx claims that Kanye West originally put the house up for sale at $53 million in December. Nobody bit, and the rapper proceeded to knock it down to $39 million. Still no takers. West had to slash the original asking price in half before Belwood Investments pulled the trigger. The worst part? The original $53 million was still $4 million less than he originally paid in 2021.

Kanye West Spent Years Renovating The Estate

PARIS, FRANCE – FEBRUARY 28: Kanye West is seen exiting a vehicle on February 28, 2024 in Paris, France. (Photo by Pierre Suu/GC Images)

Don’t worry, the financial losses don’t stop there. Kanye West spend years tearing up the estate and bringing in architects to redesign his so-called “bat cave.” The changes resulted in the rapper getting sued by property manager Tony Saxon in September 2023. Saxon claimed that West was promoting unsafe work conditions and making unreasonable demands. “We were going to be gutting all of that out and sort of building him a Bat Cave,” Saxon told NBC News. “[Where he could] hide from the Clintons in and the Kardashians in.”

It has been an eventful year for Kanye West when it comes to property. The rapper sold his Wyoming for $14 million back in June. Daily Mail reported that the process of finding a buyer was much easier than it was with the Malibu estate, but that the Wyoming ranch was in similar “disrepair.” The rapper’s current living conditions are unclear. Some outlets have claimed that he lives in a Los Angeles apartment, while others have linked to a $2.2 million ranch in Calabasas. As with everything Kanye West related, we will probably never know for sure.

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Kanye West’s Malibu Mansion Buyer Revealed

August 27, 2024 by newhiphopnews

The buyer of Kanye West’s infamous Malibu mansion, which he recently sold for around $21 million, has been revealed to be Belwood Investments, a “real estate crowdfunding firm” that’s been in operation since 2018. In a press release the company put out, they confirmed plans to put $5 million in renovations into the home “to restore the property to its original state.”

“We are incredibly excited about the acquisition of this property,” Belmont said. “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 exceptional returns for our investors.”

Kanye West & Ty Dolla Sign Perform At Rolling Loud In Los Angeles

INGLEWOOD, CALIFORNIA – MARCH 14: Rapper Kanye West performs onstage during the “Vultures. 1” playback concert during Rolling Loud 2024 at the Hollywood Park Grounds on March 14, 2024, in Inglewood. (Wally Skalij/Los Angeles Times via Getty Images)

The release added that: “Restoration will honor the unique materials and innovative design elements specified by Ando, many of which were imported from around the world… The renovation process is anticipated to take 12-16 months.” It also noted that: “Richard Sachs, the original owner, aptly described it: ‘This is not just a house; this is like a Picasso, a cubist painting, very important and very rare.’” The company never made mention of Kanye West’s ownership.

West caused controversy regarding the property by stripping it, despite the rarity of Ando residences. The New York Post previously reported that he described it to a worker as his “bomb shelter” and “Batcave.” He removed tubs, light fixtures, windows, heating, air conditioning, and more. The house encompasses 4,000 square feet and contains four bedrooms and five bathrooms. Be on the lookout for further updates on Kanye West on HotNewHipHop.

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Cardi B Debunks Financial Trouble Rumors With Receipts

August 4, 2024 by newhiphopnews

Cardi B shared a series of texts with someone from her team on X (formerly Twitter) on Sunday to shut down a report from The Sun, which alleged she may be millions of dollars in debt from her mortgage. With the rumors lasting for days already, Cardi appeared incredibly frustrated by the situation.

“First of all, The Sun is posting rumors that y’all are making up and sending blind items about… that’s why it’s NO DOCUMENTS, just word of mouth,” she wrote. “Everybody gets a loan to buy a house and I never been behind on any of them.. i bought my house in 2021 and put almost 12 million in it now look how much I got left. I’m very responsible with money, my bills come before luxury and I just spent 400 thousand on jewelry this month because I also still know how to BUDGET… stop playin wit me.”

Cardi B Steps Out In Paris

PARIS, FRANCE – JULY 9: Cardi B is seen leaving Cesar restaurant on July 9, 2024, in Paris, France. (Photo by MEGA/GC Images)

The rumors have been running rampant for days. Back on Tuesday, she fired back at haters on X in a since-deleted tweet caught by AllHipHop. “LMAOOO You bum b*tches wish,” she wrote to one user. “Me and offset bought that house in 2019 for 5 million now it’s worth 7. Check the Atlanta market. And no, we not selling it… And if I ever sold it I would just sell my part to Offset since he loves Atlanta. Throwing salt on my home? Hating bad.” She also discussed the drama in an X Spaces conversation.

Cardi B Speaks On Rumors Of Real Estate Debt

Cardi B drops receipts to shut down persistent real estate debt rumors pic.twitter.com/qbs8pOlAq0

— HipHopDX (@HipHopDX) August 4, 2024

While Cardi deleted her latest post on the topic, HipHopDX caught them before she did so. Check it out above. The rumors come after reports surfaced, earlier this week, that Cardi filed for divorce from Offset. Be on the lookout for further updates on Cardi B on HotNewHipHop.

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Jay-Z & Beyonce Lose $200 Million Real Estate Record To Founder Of Oakley

June 19, 2024 by newhiphopnews

Jay-Z and Beyonce are undoubtedly the king and queen of the current day music industry. From selling millions of records to packing arenas and all of the entrepreneurial endeavors, they really run things around here. However, what they cannot add to their nearly unbeatable resumes is being in possession of the most expensive house in California. According to HipHopDX, Jay-Z and Beyonce have just lost the real estate record to the founder of Oakley, James Jannard. Multiple reports say that the head honcho over at the sportswear company recently sold his $210 million Malibu mansion, surpassing Hov and Bey’s $200 million palace in the same suburb.

Jannard purchased the luxurious pad for $75 million back in 2012 (back when the market was much more reasonable). It apparently possesses eight bedrooms, 14 bathrooms, on top of 9.5 acres in land, which includes 300 feet of ocean frontage. Furthermore, the new owner will also be able to enjoy an expansive courtyard, in addition to a gym and two guesthouses. According to the New York Post, Jannard’s spot has never hit the open market and the person behind this lavish purchase is still unknown.

Jay-Z & Beyonce Are $11 Million Short Of The Real Estate Record

Oakley founder sells Malibu mansion for a breathtaking $210M — setting a new record for California https://t.co/CoqV5uH2PJ pic.twitter.com/3D6F4Z5OPe

— New York Post (@nypost) June 19, 2024

In terms of other fun facts surrounding this new record holder, the interiors were mapped out by Michael S. Smith. He was responsible for making tweaks to the Oval Office at the White House. So, not only is there unforgettable views on the outside, but the inside has also just as much to offer. Congratulations to Mr. Jannard on the eye-popping sale!

What are your thoughts on Jay-Z and Beyonce losing the California real estate record? Are you surprised that someone was able to top it, why or why not? Whose home do you think looks more impressive and why? We would like to hear what you have to say, so leave your thoughts in the comments. Additionally, always keep it locked in with HNHH for all of the latest news surrounding Jay-Z and Beyonce. Finally, stay with us for everything else going on in the music world.

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Drake Relists Beverly Hills Mansion After Recent Security Issues

May 11, 2024 by newhiphopnews

Drake has seen brighter days. The Toronto rapper has been declared the loser of the Kendrick Lamar battle by general hip-hop community. To make matters worse, his properties have been subject to odd breaches. His OVO store in London was vandalized last week. Then, his Toronto security reported two trespassers on his estate in the span of two days. The property saga continued on May 10, when Drake decided to put his Beverly Hills house on the market.

The rapper relisted the estate last week, according to TMZ. The sprawling property spans 20 acres, 24,000 square feet of living space and has 7 bedrooms. It doesn’t stop there. Drake’s former house contains 22 bathrooms and a staggering 11-car garage.

The main part of the house is so large it’s actually separate from the guest space. It has every lavish detail you’d expect from the man who made “God’s Plan.” The property also comes with a sizable price tag. Drake is currently selling his Beverly Hills home for $88 million.

Drake Is Listing His Former Home For $88 Million

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This is not the first time Drake has tried to sell the Beverly Hills property. He put it on the market with a similar price tag back in May 2023. The Los Angeles Times reported that the rapper initially paid $75 mil for it, which is more than twice what the previous owner of the property paid. (The previous owner was also a singer, UK star Robbie Williams).

Drake lived in the Southern California area during the 2010s, during which time he was neighbors with the likes of Justin Bieber and the Kardashian family. It was during this time, in fact, that Drake’s feud with Kardashian family member Kanye West hit an all-time high. The two men were supposed to record a joint album together around 2016, but West’s negative comments about Drake led to the album being put on the shelf. Both men subsequently relocated. Based on the fact West dropped a remix to the 2024 Drake diss “Like That,” it’s safe to assume they are still on the outs.

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Ye Makes Substantial Cuts To Asking Price For Stripped-Down Mansion

April 11, 2024 by newhiphopnews

Earlier this year, Ye, formerly Kanye West, listed his Malibu mansion for sale. The property plays an interesting role in his past few years. He famously stripped the mansion down of almost everything you’d typically need to live in it. What’s left has no glass or electricity and is missing multiple walls and a roof. The property has unsurprisingly fallen victim to the physical deterioration of being left outside and stands out quite drastically from the surrounding beach front properties.

Back in January, West listed the unique property for sale. It was originally listed for a staggering $53 million price tag. While the location is ideal the home itself would likely take millions in renovations for anyone to ever live in it again. The four bedroom five bathroom home unsurprisingly didn’t sell and West has just made a significant price cut to the listing. According to TMZ it’s now for sale for a full $14 million less than the original asking price, sitting at $39 million. Check out some of the newest pictures of the home below.

Ye Makes A Substantial Price Drop To Malibu Home

Earlier today a new photo of Ye with Yung Lean and Rich The Kid hit the internet. Fans are hoping he’s hard at work on VULTURES 2 the second of three volumes he promised to drop this year. Rich The Kid contributes a feature to the hit song “CARNIVAL” from VULTURES 1. The track reached number one earlier this year and has been one of the biggest hits of 2024 so far.

The album is now more than a month past it’s originally announced release date. Ye and Ty Dolla $ign also had to cancel a previously announced listening party recently. The delays have only further contributed to fan frustration around the controversial rapper’s output. What do you think of Kanye West dropping the price of his mansion by $14 million? Do you think the mansion will ever sell in its current condition? Let us know in the comment section below.

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Lil Uzi Vert Finally Sells The Mansion They Listed Last Year

April 9, 2024 by newhiphopnews

Late last year, Lil Uzi Vert put their California mansion up for sale. The property is in Bell Canyon and the rapper originally bought it back in 2021. The quick turnaround had the potential to net Uzi a nice profit as it was originally listed for $6 million. The five months it took to sell probably weren’t a good sign. That’s why it’s no surprise that the property eventually sold for an underwhelming $4.35 million. Given that Uzi bought the mansion for $4.4 million just a few years ago the final price tag has to be a bit of a let down for the rapper.

Earlier this year, Lil Uzi Vert deactivated their social media. They weren’t exactly clear on why but as a result they’ve been extremely quiet since. The rapper promised two new projects last year following the release of Pink Tape, but neither ever materialized. The first was the long-awaited third edition of their LUV Is Rage series. Fans were hoping the project would drop like an extended deluxe edition similar to LUV Vs. The World 2 and Eternal Atake back in 2019. The second album they announced was a tribute to Young Thug called Barter 16. The project even got an album cover where Uzi mirrored a classic Thug cover. Neither project was ever officially released despite repeated teases.

Lil Uzi Vert Sells Their Mansion For $4.35 Million

Uzi’s absence from social media has kept them away from some of the numerous dramas surrounding their partner, City Girls rapper JT. She’s been engaging in a back and forth with GloRilla dating back to last week.

But even more shocking to fans was her recent spat with the other member of City Girls, Yung Miami. The pair filled Twitter feeds with their arguments yesterday. It got so bad that “the girls are fighting” began trending on Twitter. What do you think of Lil Uzi Vert selling their mansion for slightly less than they bought it for a few years ago? Do you hope they return to social media soon? Let us know in the comment section below.

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Amine Buys Nearly $3 Million Home In The Hollywood Hills

April 1, 2024 by newhiphopnews

Amine reps his city as much as anybody. In his lyrics, song titles, and music videos he’s always talking about the city of Portland. That’s why some recent news about him buying a new home is surprising rap fans. That’s because the home he purchased isn’t in Portland at all, but the Hollywood Hills. According to XXL, he’s nabbed a 3,591 square-foot, three-bedroom, three-bathroom residence in Los Angeles. They also shared some pictures of the stunning residence, check out the full set of photos below.

Amine’s most recent musical effort was a collaboration. He teamed up with producer Kaytranada for a fittingly titled crossover album called Kaytramine last year. In addition to the two talented artists at its core, the album also featured appearances from Freddie Gibbs, Big Sean, Amaarae, Snoop Dogg, and Pharrell. The album spawned hits and fan favorites like “4EVA,” “Rebuke,” and “Sossaup.” The pair played a special five-show summer tour last year to celebrate the release of the album. The tour included dates in both Amine’s native Portland and Los Angeles.

Amine Buys Himself A New Home

Earlier this year, Amine teamed up with RiTchie from Injury Reserve. He’s hearing up to drop his first solo album later this year and has teased it with a series of singles including “Dizzy” which also features a verse from the Portland-rapper. The two have collaborated numerous times before on songs like the single “Campfire” and the Limbo deep cut “Fetus. Amine lent a memorable guest verse to the car-themed banger “Jailbreak The Tesla” from Injury Reserve’s 2019 self-titled album.

Amine’s last solo project was his TWOPOINTFIVE mixtape project in 2021. It served as the sequel to 2018’s ONEPOINTFIVE. Both projects served as shorter splashes of material in the gap between bigger and more substantial solo releases from the rapper. What do you think of Amine’s new house in the Hollywood Hills? Are you looking forward to new material from the rapper soon? Let us know in the comment section below.

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NBA YoungBoy’s Utah Mansion Can Be Yours For $5.5 Million

February 27, 2024 by newhiphopnews

Spending his early 20s on house arrest in Utah hasn’t been easy for NBA YoungBoy, but on the bright side, it’s given him the time and energy to pour into his near-constant music releases. So far in 2024 he’s shown off his skills on singles like “Steppa,” “No Time,” “Closed Case,” “F**k Ni**as,” and “Nose Ring,” and that only covers what we’ve heard from the controversial rapper in February. Besides his bars, YB is also in the news as he reportedly seeks to sell his 8,000-square-foot mansion that provides incredible views of Salt Lake Valley, the Oquirrh Mountains, and the city’s Downtown area.

As Building Salt Lake reports, the four-bedroom, four-bathroom property was listed on Monday (February 26) for $5.5 million. “Designed to blur the lines between indoor and outdoor living, every corner of this home is flooded with natural light, creating an ambiance of serenity and tranquility,” a description beneath the new listing reads. The home was first built in 1999 but has since gone through substantial renovations, now boasting a heated driveway and a five-car garage to keep your whips safe and sound.

NBA Youngboy Is Craving Change Ahead of Spring

“Enjoy resort-style living with a sparkling pool, perfect for lounging on warm summer days or hosting elegant gatherings against the backdrop of the mesmerizing scenery. Experience the epitome of contemporary elegance in this exceptional property, where every detail has been meticulously curated for the discerning homeowner,” realtors further promoted the 24-year-old’s home. He’s set to sit for trial this coming summer, so it’ll be interesting to see where he chooses to shack up with his large family for the time being if his mansion sells quickly.

While NBA YoungBoy keeps his sights set on the future and preparing for his long-awaited trial, one of his children’s mothers has been making headlines for faking her own kidnapping story during a juicy Instagram Live session. Arcola has since confirmed that the entire situation was nothing more than a prank, though not everyone is impressed with her laughing off such a sensitive topic. Read more about that at the link below, and let us know if you’d like to take over YB’s Gravedigger Mountain in the comments.

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Kanye West Selling Near-Gutted Malibu Home For $53M

December 20, 2023 by newhiphopnews

Kanye West appears to be offloading some real estate as he prepares for the release of Vultures. According to Hollywood Reporter, the rapper is selling his Malibu mansion at a loss – a reflection of its near-gutted interior – with the help of Selling Sunset star Jason Oppenheim. Ye’s beach home, which he bought 2 years ago for $57 million, is currently on the market for $53.7 million. Pritzker Prize-winning Japanese architect Tadao Ando designed the beach house which boasts views of the Pacific Ocean from every room.

However, it seems as though Ye removed a significant amount of the interior, which will now require some work. “What’s missing are the interiors,” Oppenheimer told HR. He revealed that it would require several millions of dollars to redesign the inside of the home. “It’s priced to reflect the need for the interior finishes to be replaced. On the positive, it can be brought up to 2024 standards — it was built about 10 years ago.” Fortunately, the concrete design from Ando is intact. The home boasts a sprawling 4,000 square feet and uses 1200 tons of concrete, and 200 tons of steel reinforcement, along with 12 large pylons burrowed 60 feet deep into the sand.

Kanye Gears Up For Vultures Release

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A post shared by Jason Oppenheim (@jasonoppenheim)

In other news, Kanye West and Ty Dolla $ign appear to have set a release date for their forthcoming album, Vultures. The album is due out on December 31st, although considering Kanye’s track record, that’s subject to change. Over the past few weeks, Ye has heavily hinted at the project’s release, culminating in a few listening parties. Although fans expected the project to drop on Friday (Dec. 15th), Kanye failed to deliver. This happened even after hosting another listening party on Friday that got shut down.

However, during the Miami Vultures rave, Ye brought out a slew of guests who appeared on the project. So far, we know that Offset, Lil Durk, Bump J, Freddie Gibbs, and his daughter, North West contributed to the album. He also previewed a new version of Kanye & Nicki Minaj’s “New Body.” Unfortunately, it doesn’t seem like it will make the final cut. Regardless, it seems as though Kanye and Ty Dolla $ign aim to close out 2023 on a high.

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