Kanye’s Beach House Sold as Fractional Fun Real Estate Experiment
KEY POINTS
- •Steven 'Bo' Belmont acquired Kanye West's Malibu home in 2024 for $21 million after Kanye bought it in 2021 for $57 million.
- •Belmont plans to finish and transform the gutted concrete home into a Soho House-like members’ space using fractional real estate sales.
- •Populis offers memberships from $15,000 to over $100,000, giving investors equity and luxury access, despite the home's unfinished state.
In 2024, Steven 'Bo' Belmont bought Kanye West's famously gutted Malibu concrete slab for a casual $21 million—down from Kanye’s $57 million price tag in 2021, presumably due to, you know, Kanye gutting it. Belmont’s bright idea? Turn this bespoke wreck into a Soho House-style clubhouse and slice it into fractional shares via his venture Populis. Access starts at a not-so-peasant $15,000, topping $100,000, for membership perks like highbrow events and mingling with other luxury daydreamers. Unlike traditional real estate sales, this deal offers equity repair money funneling into finishing the home, which, spoiler, is still an unfinished artsy ruin overlooking the Pacific. Belmont bravely markets it as more than concrete, promising a 'civic movement' with architects and outsiders reclaiming 'culture’s rarest places,' despite it being exactly the idea reckless real estate fans signed up for.
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Nothing says community like pooling six figures to fix Kanye’s demolition derby of a Malibu mansion, then awkwardly pretending it’s exclusive culture.
Kanye gutted his $57M Malibu mansion, then a gang of investors buys pieces to turn it into a fancy ghost clubhouse. Classy!
If owning a dilapidated concrete museum once Kanye’s is your flex, Populis and your $100K tier are ready to disappoint you.
Source: Businessinsider | Published: 12/6/2025 | Author: Jordan Pandy
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