As Rihanna awaits the birth of her second child, she is not slowing down on doing deals. The songstress and beauty mogul recently sold one of her mansions in Beverly Hills for $10.3 million to prominent entertainment executive Tracey Jacobs.
Rihanna, whose current net worth is an estimated $1.7 billion, purchased the home two years ago for $10 million. While it might seem that she’s making a slight profit from the sale, she really is not. Once she pays realtor fees, closing costs, and a whopping $570,000 in taxes to Los Angeles as part of the new mansion tax, she won’t walk away with a profit.
Under the new law, which went into effect in April, there is a 4 percent tax to be applied to all properties sold or transferred for more than $5 million. A 5.5 percent tax is now placed on properties sold or transferred above $10 million. The seller is by law responsible to pay the tax. Revenue from the so-called mansion tax will go to fund affordable housing and homelessness prevention programs.
An Old Hollywood Mansion
Built in 1939, the Tudor-style mansion sits on a half-acre lot. Nestled on a hillside lot, the estate features a two-story main house with an apartment perfect for guests on top of a detached two-car garage.
The 5,000-square-foot main house includes a living room with a vaulted ceiling and a spacious family room. A formal dining room leads to a dining terrace. There’s also an eat-in kitchen with high-end appliances.
Upstairs, there are four bedrooms. The master suite includes a spa-style bathroom, fireplace, and balcony overlooking the home’s spacious backyard, including several gardens.
Outside, there is a swimming pool, cabana, and brick patio area. There’s also a basketball court, fire pit, and several other patios for either relaxation or entertainment.
Rihanna’s Real Estate Portfolio
The sale of this property doesn’t mean Rihanna is going to be too far away. She also owns the mansion next door. She purchased this property in 2020 for $14 million. The 5,909-square-foot residence has five bedrooms, a chef’s kitchen complete with two kitchen islands, and expensive appliances.
Also in Los Angeles, Rihanna owns two penthouses — one at The Century, a highrise condominium that is home to many wealthy celebrities, and another on Wilshire Corridor.
Finally, Rihanna owns a villa on her native island, Barbados. Located on the western coast, the home is one of eight properties on an exclusive luxury resort known as One Sandy Lane. The home features a marble entryway, five bedrooms, and a terrace overlooking the Caribbean Sea. Rihanna scooped up the property for $21.8 million.