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Byron Allen Buys $100M Home, The Most Any African American Has Ever Spent On A Home In U.S.

 

Byron Allen, a media mogul, has made history by becoming the first African American to spend the most money on a home in the United States. Beyonce and Jay-Z set the previous record when they purchased a $88 million compound in Bel-Air in 2017.

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The 61-year-old is said to have paid $100 million for a 10,698-square-foot home on 3.6 acres above the beach, with eight bedrooms and 12 bathrooms.

There is a movie theater, a tennis court, and two guesthouses at the mansion. One of the guest houses also functions as a gym and yoga studio. The main suite also has a fireplace, bathroom, custom walk-in closets, and a private terrace.

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The Mediterranean-style home is the third most expensive sale in California’s real estate market this year, and the most expensive in Malibu in 2022.

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Tammy Hughes Gustavson, heiress to Public Storage and billionaire, previously owned the property, which was built in 1991. According to the Wall Street Journal, Gustavson’s late father, B Wayne Hughes, purchased the property in 2003 for around $ 20 million.

According to Mail Online, the property is directly adjacent to that of WhatsApp co-founder Jan Koum, which is valued at approximately $190 million. Allen’s neighbors include actress Halle Berry, Kim Kardashian, and venture capitalist Marc Andreessen, in addition to Koum.

Allen, a native of Detroit, has a sizable real estate portfolio. He reportedly owns luxury residences worth $500 million in Los Angeles, New York, Aspen, and Maui. He also owns two Beverly Hills homes worth a total of $32 million.

The billionaire TV mogul owns ABC, NBC, CBS and FOX network affiliate broadcast TV stations through his media and entertainment company. He also owns 24-hour HD TV networks and various streaming platforms, like The Weather Channel, HBCU Go, Sports.TV., Comedy.TV and Local Now.

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Written by How Africa News

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