Kanye West has lost a fortune for spewing hate and displaying erratic behavior in 2022. It all started with the Yeezy t-shirts that read ‘White Lives Matter’. Later, Ye went on a rampage to spread anti-Semitism, due to which he lost big business deals, including the one with Adidas. It brought down his fortune by $700 million. He was completely ousted from the industry.
Kanye West once had a great real estate portfolio with houses in Malibu, Calabasas, and other strategic locations. However, after his business faced severe losses, Ye halted work on many of his properties, including the Malibu property, which he left to rot since he bought two years ago. Tadao Ando, the renowned architect, was behind the property, but now it is listed for sale for $53 million, causing a $4 million loss to the rapper.
Kanye West’s Malibu Property Gets Listed For $53 Million After Buying It For $57 Million
After halting the work on the Malibu property and shifting to a rental, two-bedroom apartment, Kanye West is finally listing the property. Jason Oppenheim, the ‘Selling Sunset’ star, holds the listing.
The house was first bought and renovated by the Wall Street biggie, Richard Sachs. He took the help of Tadao Ando, who designed Jay-Z and Beyoncé’s house in Malibu. Richard finished the work in 2020 and listed the property facing the Pacific Ocean for $75 million.
The three-story house has four bedrooms, each facing the Pacific Ocean, with an additional 1,500 square feet of deck space. As per Jason Oppenheim, the real value of the property is in its structure. The realtor says, “The architect is known for his concrete work, which is what remains.”
The Malibu property is made out of 1,200 tons of concrete, 200 tons of steel, and 12 pylons driven 60 feet deep into the sand. He said, “It was a very minimalist interior previously and will likely continue to be that in order to allow the architecture to speak louder than the finishes.”
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The Rapper Was Sued By The Caretaker For Delay In Salary Payments
In September 2023, Tony Saxon, the project manager and caretaker of Kanye West’s Malibu property, filed a lawsuit against him for labor code violations, wrongful termination, and unpaid wages. In the lawsuit, he mentioned bizarre renovations that the ‘Donda’ rapper wanted in the house.
Kanye West wanted to create a “bomb shelter from the 1910s.” He wanted to strip the electricity, windows, and plumbing while replacing the stairs with a slide. Kanye just wanted plants, candles, and battery lights.
Ye wanted to keep everything open and dark. Tony said, “We were going to be gutting all of that out and sort of building him a Bat Cave to hide from the Clintons in and the Kardashians in.” He promised Saxon to be paid $20,000 every week, but only two payments were made, and the project manager had to sleep on the floor and work 16 hours in dire conditions.
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