When Beyoncé and Jay-Z purchased their Malibu home in May, it was the most expensive home ever purchased in California. The Carters snapped up the eight-acre estate for $200 million.
And now, they’ve got to pay to keep up the property.
A home that is 40,000 square feet needs constant maintenance that cannot be handled by two or even 10 people. But for Beyoncé, who earns $540 million annually and Jay-Z, who is worth an estimated $2.5 billion, hiring household staff is an expectation. After all, can we really imagine Beyoncé cleaning toilets in between touring?
“These homes run like a well-oiled machine,” Jenny Greenwood Huber, owner and founder of Heritage Estate Management, told Insider. “At this level, it’s usually a business in its own right.”
Managing The Estate
Companies such as Heritage Estate Management specialize in providing property management and staffing the homes of wealthy residents in places such as Malibu and Beverly Hills.
On the East Coast, services such as the Hamptons Employment Agency specialize in hiring housemen and housekeepers to maintain properties throughout the busy summer months and even once owners have returned to their main residences.
A home of this size requires full-time staff — sometimes 50 at a time — to keep the home in tip-top shape.
There’s a need for onsite managers, also known as butlers, to take care of daily household operations and special events. Housekeepers and housemen are needed to keep the home sparkling clean. Then, there’s also the need for nannies and tutors to provide support in managing daily childcare support. Chefs are also needed to help residents have hot, healthy meals at various times during the day. Finally, chauffeurs must be on hand to whisk residents around at a moment’s notice.
Even when homeowners are vacationing or working away from home, the residence still needs 24-hour care. According to Huber, housekeepers will need to be present to keep the home looking pristine.
The Costs Associated With Estate Upkeep
Hiring a household staff of this magnitude comes at a serious cost. According to Huber, butlers and nannies easily can earn at least $100,000 annually. Chefs can bring in $50 to $100 per hour while housekeepers’ and housemen’s salaries range between $30 and $35 per hour.
Once totaled, this could cost a wealthy homeowner six to seven figures a year to have full-time staff. For instance, for a full-time staff of 20, owners could be paying at least $1.8 million annually.
