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.
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Kanye West Spent Years Renovating The Estate
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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