MALIBU—The Malibu home rented by rapper Jay-Z and his wife Beyoncé recently sold for $50 million to the owner of a private investment firm last month.
The duo rented out the estate following the birth of their twins, Rumi and Sir in 2017. According to The Wall Street Journal, monthly rent for the property reached as high as $400,000. The music duo recently purchased a Bel Air property, which prompted the Malibu property to hit the market with an asking price of $54.5 million.
The home sits on a 6.5-acre property known as “La Villa Contenta” and was built by Richard Weintraub, CEO of Weintraub Estate Group. La Villa Contenta contains 14 bedrooms, 10 bathrooms, a wine cellar, home theater, ballroom, and a view of the Pacific Ocean.
Jay-Z, 48, and Beyoncé, 36, purchased their Bel Air property for $88 million. They have three children together, Blue Ivy, 6, Rumi, 1, and Sir, 1. The former Destiny’s Child star is known for her hit songs “Single Ladies” and “Formation.”
Jay-Z is famous for his hit singles “Run This Town” and “Hard Knock Life” and has released a total of 13 studio albums. The two began collaborating before they were an item with the 2002 hit “Bonnie and Clyde” and have since released several songs together, including the ubiquitous hit “Crazy in Love” in 2003, “Upgrade U” and “Drunk in Love.”