Kim Kardashian may be a billionaire, but she needed a mortgage to buy her huge Malibu estate. According to documents obtained by The U.S. Sun, Kim took out a $48.7 million mortgage to buy the property for $70.4 million in September.
Moreover, Kim used Britney Spears’ controversial ex-business manage Lou Taylor to complete the sale as well as other business deals. Lou is accused of being complicit in keeping Britney under a harsh decade-long conservatorship and of abusing her power.
Kim purchased the mansion from Cindy Crawford. Built in 1994, the home features 4 bedrooms and 5.5 bathrooms, for over 7,450 square feet of living space Some of the home’s amenities include a gym, outdoor pool, full-size tennis court, and private beach access.
Kim has a number of California properties to her name. She still owns the $60 million mansion that she won in her divorce from Kanye West.
The former couple bought the home for $20 million in 2014, and then began a series of years-long renovations. They sank tens of millions of dollars into the estate before moving in, only to live in it for several years before divorcing.
In January 2022, Kanye bought a $4.5 million home directly across from the mansion he used to share with Kim. He reportedly bought it for the location, so he could be closer to their kids.
Kim may be buying new property, but Kanye is reportedly struggling to keep his real estate assets nowadays. Earlier this month, photographs showed his L.A. ranch abandoned and dilapidated, with windows boarded up.
Ye originally bought the property in 2018 for $2.2 million, and it temporarily served as headquarters for his Sunday Service and Donda Academy. After beginning renovations in 2019, Kanye received complaints from the neighbours.
The city eventually told him to halt the project, though it’s unclear why the whole property now seems abandoned.
Kanye isn’t just leaving his own properties in shambles; he’s also having a hard time paying rent. In December, his Yeezy brand was reportedly evicted for falling behind in rent.
In an attempt to get his affairs in order, Kanye has reportedly put his new wife, Bianca Censori, in charge of his businesses.
"Bianca runs the show. She has been around Ye for about three years, things got serious really fast in mid-November,” an insider told The Sun.
"Bianca handles Ye's daily logistics from Yeezy clothing management to construction of the new Yeezy headquarters/ Donda Academy,” they went on. "She takes all his calls, and all business affairs go through her. It seems to be working out well so far."
Sources: Castanet, The US Sun,
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