In a surprising financial move, Kanye West has reportedly tapped into some unique funding sources to purchase a sprawling $35 million mansion in Beverly Hills.
Kanye West and his wife, Bianca Censori, have reportedly secured $15.5 million in loans to buy their new opulent estate. According to sources, $12.5 million of this amount was lent by Lone Oak Fund and its investment arm, Lone Oak Industries. Meanwhile, nearly $2.7 million came from a private money lender associated with fitness entrepreneurs Richard and Lucy Glassman, whose unconventional lending approach emphasizes, ‘when the banks say no, private money is the only way to go.’
Richard Glassman provided insight into their decision to fund Kanye, explaining, ‘When you have a total of 40 percent loan to value, it’s a good investment. This is the great creativity of the broker, it’s not the creativity of Kanye West, they do all the due diligence, I’m just the little guy.’ He also clarified that although celebrities can be risky to finance, the potential to acquire a $35 million property if payments falter makes it worthwhile.
Despite the grandeur of the 20,000-square-foot mansion, complete with 11 bedrooms, 18 bathrooms, a guest house, pool, tennis court, and even a waterfall, Kanye reportedly does not intend to move in. Instead, he plans to use the property as a rental.
This move may be tied to Kanye’s broader vision of urban development, hinted at in his recent social media posts. Fans of the rapper might recall his ambitious plans to build a city in the Middle East, known as YZY DROAM. Although that project didn’t materialize, the enigmatic artist might be channeling those aspirations closer to home in Beverly Hills.
In the past, Kanye’s vision has included creating self-sustaining communities. Back in 2023, he was on the lookout for project managers, engineers, architects, and contractors for a Middle Eastern city project spanning 100,000 acres. Similarly, his ambition to build a city in Wyoming was halted by state regulations in 2020.
Moreover, Kanye’s trademarks filed in 2022 aimed to create a ‘Yecosystem,’ an entire mini-community complete with branded homes and stores selling unique products. He envisioned rolling out these communities across the U.S., creating a singular living experience.
Kanye West’s latest real estate venture not only reflects his taste for luxury but also hints at his continued interest in innovative real estate and community design. As fans eagerly watch his next moves, it’s clear his ambitions stretch far beyond music.
