Kanye West recently gutted his Malibu home and hired famed architect Tadao Ando, but now plans for renovation seem to be on hold. The project could be experiencing delays as a result of today’s supply chain crisis or Ye is having a change of heart.
West, one of the nation’s few Black billionaires, is considered one of the most influential hip-hop producers and artists. West combines music, fashion and other entrepreneurial endeavors to have a net worth of $6.6 billion.
A 21-time Grammy winner, West was raised in Chicago where he was first introduced to hip-hop music. He began working as a producer with Roc-A-Fella Records in the early 2000s. West released his debut album, “College Dropout,” and launched his own record label, Good Music, in 2004. Yet West’s entrepreneurial endeavors, namely in fashion, have garnered him great wealth. The Yeezy brand contributes to $3 to $5 billion of West’s net worth annually and from his Yeezy/Adidas partnership, West earns between $150 to $200 million annually. In addition, West has brokered a partnership with Gap that is worth $1 billion. Finally, West’s music catalog is worth an estimated $110 million.
Yet, West’s wealth has not been able to speed up the renovation process on his beachfront property. West paid $57.3 million in 2021, for the home and started tearing it down. Originally built by Ando in 2013, the 4,000-square-foot home featured four bedrooms and four-and-a-half bathrooms.
The home was purchased from retired Wall Street financier Richard Sachs. Sachs invested millions of dollars as well as several years of planning and constructing the three-story house. Originally, Sachs had put the property on the market for $75 million, but it was later removed. When West purchased the property, it was the second-highest amount paid for a Malibu residence in 2021. The highest sold for $87 million in February 2021.
The home is about a half-hour drive from West’s ex-wife, Kim Kardashian, and his four children, who reside at the Hidden Hills residence. West has another home that sits right across the street from Kardashian. The $4.5 million sits empty. That home is just over 3,650 square feet, with 5 bedrooms.
In addition to his Malibu home, West owns several properties throughout the United States, including a ranch in Wyoming, a condominium in Calabasas, and two minimalist condos in New York City. West attempted to build a village of dome-like homes on 300 acres of land on the outskirts of Calabasas, but the structures were destroyed after it was discovered they did not meet building codes.