Congratulations to billionaire media mogul Byron Allen, who has bought himself a stunning $100 million home in Malibu, which is the most money an African-American man has ever spent on a property in the U.S. According to TMZ, the 11,000-square-foot four-bedroom estate is located in Paradise Cove and overlooks the Pacific Ocean, and includes a list of amenities such as a home theater, gym, yoga studio, and a tennis court.
There are two guest homes where friends and family members can stay when visiting Allen, who also has a winding path at his house, which connects directly to the beach. Heiress Tammy Hughes Gustavson was the previous owner of the compound, having placed it on the market in May for a reported $127.5 million.
Billionaire Mogul Byron Allen Closes Largest U.S. Home Sale Ever For African American
The whooping $100 million transaction makes it the richest deal in U.S. history for an African American . The previous record was held by Jay-Z and Beyonce, who spent $88 million for a mansion pic.twitter.com/ILBgXGBnMC
— Bawhealix ✭ (@homie_straight) October 11, 2022
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Speaking of the estate in the ad listing over the summer, real estate agent Cold Banker Realty revealed at the time, “This gorgeous villa offers a casually elegant style and peaceful ambience with walls of pocketed glass doors throughout that open to large terraces encircling the home and allowing the light-filled interior to integrate with the lush exterior and enveloping ocean vistas.” Prior to the successful purchase, Jay-Z and Beyonce held the record after acquiring a $88 million home in Bel-Air five years ago.
But trust and believe that Allen’s latest buy may not even be his main house in the future because he also owns properties in other areas including New York, Maui, Beverly Hills and Aspen, according to Daily Mail, recounting how Allen earned his big break at just 14 when he was enlisted to help write jokes for fellow comedian Jimmie Walker.
This opportunity would later lead Allen to become the youngest stand-up comedian on “The Tonight Show Starring Johnny Carson,” where he was hired to helm a comedic segment. His acting credentials are fairly long too, having appeared as a television presenter on the former NBC show “Real People,” which ran from 1979 to 1984.
deserves……..HE WORKED HARD FOR HIS MONEY!!!!!!!
— zachary (@GNehaul) October 10, 2022
The Detroit native, whose net worth is said to have recently surpassed a billion dollars, founded Entertainment Studios in LA as his career continued to skyrocket. His company bought The Weather Channel from NBCUniversal in 2018 and has since partnered with Sinclair Broadcast Group in Diamond Sports Group to acquire regional Fox Sports Networks.
In February, Allen made an offer to buy the Denver Broncos NFL team, though his bid ended up being overshadowed by S. Robson Walton who was willing to make a bigger proposal after he, too, showed strong interest in buying the team.