Star couple Jay-Z and Beyonce Knowles purchased their $200 million mansion with cash. They recently splurged on a 30,000 sq ft abode in Malibu from art collector William Bell, and insiders have told TMZ they don't have a mortgage on the property, reports aceshowbiz.com.
However, this may not come as a surprise as the '99 Problems' hitmaker is worth around $2.5 billion, in part due to brand endorsements, his fine art collection, and his own back catalogue, while his wife's music and movie career have seen her amass a fortune close to $500 million, which is only set to increase with her ongoing 'Renaissance' tour because the concert series is expected to generate more than $1 billion.
It was revealed last week that the property deal was the most expensive home in the state of California, breaking the old record of $177 million, and it is the second-highest ever real estate deal in the entire country, behind the 238 million pounds sale of an apartment in New York.
But Jay and Beyonce may think they have received a bargain because the property - which sits on an eight-acre property overlooking the Pacific Ocean in the Paradise Cove area - was listed for $295 million.
Former owner William took almost 15 years to build the all-concrete property, which was designed by Japanese master architect Tadao Ando.
Back in 2017, Beyonce and Jay - who married in April 2008 - splashed out $88 million on a mansion in the Bel-Air area of Los Angeles, and spent millions on the property to boost its value to more than $100 million.