Just a mere two years ago, Kanye West was riding high on the triumph of his Yeezy sneaker brand, a billion-dollar enterprise. At the peak of his financial prowess, he made substantial investments, acquiring two sprawling Wyoming ranches covering over 3,000 acres collectively. The money seemed inexhaustible, evident in his acquisition of a mesmerizing oceanfront residence in Malibu, designed by renowned Japanese architect Tadao Ando, for a staggering $57 million in cash. Amidst the tumultuous divorce from Kim Kardashian, he went a step further, purchasing a residence directly across the street from her Hidden Hills abode, seemingly on a whim.
Fast forward to the present, and both of his California properties are in a state of departure. The Hidden Hills house recently changed hands, marking a six-figure loss for West. Meanwhile, the Malibu manor is currently listed for sale at $53 million. Even in the unlikely scenario of a full-price offer, West stands to incur significant financial losses, factoring in realtor fees and closing costs. The perplexing twist in this tale is that it remains uncertain whether West ever spent a night in the Malibu Mansion, which underwent a complete gutting during his ownership.
The current listing, overseen by Jason Oppenheim of the Oppenheim Group and star of Selling Sunset, showcases dated photos of the property. However, recent aerial imagery reveals a stark contrast — most walls and doors have vanished, and the interior finishes likely met their fate in a landfill. Oppenheim revealed to the Wall Street Journal that making the house habitable would require an investment of “several million dollars.
Initially, West harbored intentions of reimagining and modernizing the 4,000-square-foot structure. However, Adidas severing ties with the 46-year-old rapper due to alleged antisemitic remarks left his finances in disarray, seemingly halting his renovation plans. At present, the edifice stands as a concrete shell exposed to the elements, with rusted railings and metal trim pieces that appear beyond salvaging.
The ultimate sale price of the oceanfront property is a matter of intrigue, especially since it is situated alongside other residences, most of which are valued at a mere fraction of West’s $53 million asking price. Nevertheless, the property boasts a distinctive pedigree as one of the few residences in the U.S. designed by Ando, a sought-after architect among the billionaire elite.
While West, a highly successful record producer and one of the best-selling artists globally, is unlikely facing financial hardships, he seems to be redirecting his focus away from real estate ownership. When not globetrotting with his apparent “wife” Bianca Censori, he frequently takes up residence for extended periods in some of Los Angeles‘ most opulent hotels, such as the oceanfront Nobu Ryokan. This shift suggests a notable departure from a once-prominent role in the real estate arena.
