LA Times: Jay-Z and Beyoncé land a $52.8-million mortgage for Bel-Air mansion. Jay-Z and Beyoncé may be worth more than a billion dollars combined, but the couple ultimately used conventional financing in order to purchase their first Los Angeles-area home.
Beyonce Jay Z LA House | 454 Cuesta | Bel Air.
Los Angeles real estate developer Nile Niami
Jay-Z and Beyoncé’s Mansion in Bel-Air
The happy family of five, Blue Ivy, Rumi, Sir Carter and their famous parents, Jay-Z and Beyoncé live in the ritzy neighborhood of Bel-Air, Los Angeles, in the foothills of the Santa Monica mountains which is every bit as magical as it sounds.
Charles Cohen , a Los Angeles businessperson, is listed as the landlord at the mansion’s address, 924 Bel Air Road in Los Angeles, in a lease agreement obtained by The Real Deal.
There is also long list of notable residents who have either owned a home or still live in Bel Air, including Jennifer Aniston, Beyoncé, Elon Musk, and Michael Bay .
Wealthy people may see benefits to getting a mortgage
There’s a simple reason why many rich people opt to get a mortgage even though they don’t have to. They see this type of debt as being financially advantageous . See, mortgage loans tend to come with very low interest rates — especially for well-qualified borrowers.
Jay-Z’s net worth is estimated to be $1 billion in 2020.
Why would billionaires need loans? The simple answer: They don’t need loans. They need tax breaks , and they can get them by borrowing — at exceedingly low interest rates — off their mountains of assets.
Bill Gates ‘ $125million house
After seven years in the making, Bill Gates’ mega-mansion ‘Xanadu 2.0’, takes the top spot at a whopping $125 million!
Antilia | Mumbai, India
Owned by India’s richest man, Mukesh Ambani , the 400,000-square-foot Antilia on Mumbai’s Cumballa Hills is situated in one of the world’s most expensive addresses—Altamount Road.
Beyoncé has $400 million to her name, according to Business Insider. While she’s most well-known for performing with Destiny’s Child and as a solo artist, her partnerships have included Pepsi, Adidas, and H&M.
The most expensive home for sale in the US is now a 40,000-square-foot, Georgian-style mansion owned by financier Gary Winnick . Known as Casa Encantada, the Bel Air estate is on the market for $225 million.
Developer Nile Niami once had grandeurs of listing his magnum opus, a 105,000-square-foot mega-mansion known as The One, for upwards of $500 million.
Ten years into making, The One is now complete and has just been listed quietly at a loss. The One is the masterpiece of outrageous, ultra-deluxe real estate developer Nile Niami . He has made a reputation as the most successful developer in the United States in the past several years.
| COST OF LIVING Bel Air Maryland | Housing 136.1 127.2 | Median Home Cost $385,300 $361,900 | Utilities 108.6 105.6 | Transportation 102.3 119.3 |
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Ahmed is a finance and business writer covering personal finance, investing, entrepreneurship, and career development.