TMZ broke the story, Jay-Z and Beyoncé purchased their brand new, 30,000-square-foot Malibu estate for $200 million … which, with the new tax, will generate $11 million.
The sale makes it the most expensive ever in the state of California … second in the country only to a $238 million purchase of an NYC apartment.
As for where that money goes … it’ll be used for affordable housing and homelessness programs in the County. So, given the current homeless problem in L.A. … the money should definitely be put to good use.
