Who bought Kanye West's Malibu house? Rapper reportedly lost $36M in the sale

The Kanye West Malibu saga has reportedly reached an end, albeit one that leaves the rapper dealing with a major financial loss. The once-luxurious property, distinguished for having been designed by Japanese architect Tadao Ando, has been reportedly sold for a mere $21 million to Belwood Investments, a California-based real estate crowdfunding firm that flips homes, resulting in a $36 million loss.

West originally purchased the property for $57.3 million in 2021.

When Kanye West acquired the Malibu property in 2021, it was portrayed as a masterpiece- one of the perfect blend of art and architecture. It was designed by the one and only Pritzker Prize-winning architect Tadao Ando, who rendered it not just a home, but a statement piece. It was the unique use of concrete and steel that contributed to the asking price of $53 million.

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Kanye West guts his Malibu property, Belwood Investment swoops in

West initially intended it to be a "bomb shelter" or "batcave," according to The New Yorker in June 2024. He listed the house for $53 million in December 2023 but found no buyers. Even after lowering the price to $39 million in April, it didn't sell. It was only when the price dropped to $21 million—less than half of what he originally paid—that Belwood Investments purchased the property.

Belwood Investments is known for flipping homes. They reportedly plan to invest $5 million in renovations to bring back the house to its former glory. The company's goal is to preserve Ando's original version while bringing the property back to market, TMZ reported. They said in a press release that came out in August 2024,

"Restoration will honor the unique materials and innovative design elements specified by Ando, many of which were imported from around the world. The renovation process is anticipated to take 12-16 months."

In the same press release, the CEO of Belwood Investments, Bo Belmont, stressed on the importance of preserving the original, or rather Ando's architectural vision. Belmont referred to the project, saying,

"This is not just a phenomenal real estate investment; it is an opportunity to revitalize and preserve an architectural gem by the renowned Tadao Ando, ensuring it remains a jewel of Malibu."

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Kanye West, who now goes by Ye, has been dealing with numerous challenges in the last few years-- from his high-profile divorce from Kim K, to lawsuits, to financial setbacks.

As for Belwood Investments, the company is now the proud owner of the key to one of Malibu's most prized properties. It remains to be seen whether they successfully flip the mansion, only time will tell.