More
    HomeEntertainmentJay-Z, Beyonce take out $57 Million loan on California mansion

    Jay-Z, Beyonce take out $57 Million loan on California mansion

    Published on

    It goes without saying that Jay-Z and Beyonce know what they’re doing when it comes to cash, however, they recently made a curious financial move that’s raised eyebrows among fans.
    Reportedly, they’ve taken out a $57.75 million mortgage on their mansion in Bel Air. This brings their total borrowing on the property to $110 million. They first purchased the property in 2017 for $88 million. They kept it when they decided to buy another California home for $200 million in 2023.

    Now, they have another 30-year loan with a five percent interest rate for the first ten years. This makes their monthly payment roughly $310,000. They took out a 30-year mortgage for $52.8 million with Goldman Sachs at a 3.15 percent rate in 2021, and those payments come out to $226,901 per month.

     

    Jay-Z and Beyonce are also paying a staggering $100,343 per month in property taxes for their Bel Air home, on top of the cost of staff and maintenance. The home boasts 11 bedrooms, four pools, a spa, media room, a wellness center, and more. It was designed by Dean McKillen and is made up of six interconnected structures.

    News of Beyonce and Jay-Z’s latest mortgage comes at the tail end of the songstress’ “Cowboy Carter” world tour, which she kicked off in April of this year. The tour is expected to conclude this weekend with shows in Las Vegas on July 26 and 27. So far, she’s brought the record-breaking tour to cities like Chicago, Paris, London, Atlanta, Los Angeles, and more.

    Latest articles

    Aviation stakeholders worry as Nigeria misses $1.3bn SAATM window 

    Nigerian aviation industry is currently facing a significant challenge as the country misses out...

    Food inflation: Pot of jollof rice costs N27,528, 153% in two years 

    Preparing a pot of jollof rice has gone beyond the reach of most Nigerians...

    FG to complete 3,112-unit Karsana housing project in August – Minister

      The Federal Government has said the 3,112-unit Karsana housing project in Abuja is scheduled...

    Picking VP from North-West, too risky for Tinubu –Baba-Ahmed

    Former Political Adviser to President Bola Tinubu, Hakeem Baba-Ahmed, on Wednesday said it’s too...

    More like this

    Aviation stakeholders worry as Nigeria misses $1.3bn SAATM window 

    Nigerian aviation industry is currently facing a significant challenge as the country misses out...

    Food inflation: Pot of jollof rice costs N27,528, 153% in two years 

    Preparing a pot of jollof rice has gone beyond the reach of most Nigerians...

    FG to complete 3,112-unit Karsana housing project in August – Minister

      The Federal Government has said the 3,112-unit Karsana housing project in Abuja is scheduled...