In a staggering real estate upset, Oakley founder James Jannard has shattered JAY-Z and Beyoncé’s previous California record by selling his Malibu estate for a jaw-dropping $210 million. This historic transaction now holds the title for the most expensive residential sale in state history, eclipsing the $200 million the music power couple spent on their Malibu property just last year.
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Jannard, who originally purchased the mansion in 2012 for $75 million, has seen the value of his investment soar. The estate spans 9.5 acres, boasting eight bedrooms, 14 bathrooms, and an impressive 300 feet of ocean frontage, making it one of the most luxurious homes in the United States.
Last year, JAY-Z and Beyoncé made headlines with their $200 million acquisition of a sprawling 30,000 square foot Malibu estate designed by renowned architect Tadao Ando. Known for their penchant for grand real estate ventures, the couple had previously made waves in 2017 with the purchase of an $88 million Bel-Air mansion, financed in part by a $52.8 million mortgage.
Their Bel-Air abode features extensive amenities such as a full-sized basketball court, multiple outdoor swimming pools, a spa, and separate staff quarters spread across a two-acre estate. Their journey to secure this dream home was marked by fierce bidding wars and a temporary stay in a rented Los Angeles mansion costing $150,000 per month.
This recent shift in real estate supremacy not only reflects the astronomical wealth circulating within elite circles but also underscores the ongoing competition among high-profile buyers seeking to stake their claim in California's most coveted neighborhoods.
In the realm of luxury acquisitions, JAY-Z and Beyoncé's spending prowess extends beyond real estate, as evidenced by their ownership of a $28 million Rolls-Royce Boat Tail convertible, touted as the world’s most expensive car. Custom-built for leisurely Mediterranean drives, the vehicle includes opulent features like a built-in picnic set and refrigerated compartments for chilled champagne.
With such extravagant tastes and a seemingly limitless budget, the couple continues to redefine the boundaries of luxury living, setting new standards in both residential real estate and automotive opulence.
