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Billionaire media mogul Byron Allen has snapped up a luxurious mansion overlooking the Pacific Ocean for a whopping $100 million — the most ever an African-American in the United States has spent on a home.
The 11,000 square foot property in Malibu's coveted Paradise Cove enclave sits on a 3.5-acre lot on top of a bluff overlooking the ocean.
It is located directly adjacent to a roughly $190million property owned by WhatsApp cofounder Jan Koum, and neighbors other famous residents like actress Halle Berry, Kim Kardashian and venture capitalist Marc Andreessen.
It features a large four bedroom house with patios overlooking the ocean and two small guest houses. It also includes a luscious garden, a designated screening room, a tennis court and a gym in one of the guest suites.
Staff quarters with a kitchen are located off the three-car garage, while above the garage there are two guest suites, each with bathrooms and terraces, and one with a kitchenette.
One of the more unusual features for the area is a winding path allowing the homeowner to drive a golf cart or other small vehicle directly down to the beach.
The home was first built in 2001, and was put up for sale back in May by self storage heiress Tammy Hughes Gustavson, who asked $127.5million for the compound.
Billionaire media mogul Byron Allen, 61, has purchased a luxurious Malibu mansion for $100 million — the most ever an African American in the United States has spent on a home
Allen started out as a comedian at the age of 14 before founding his own media company in 1993. He is estimated to be worth $4.5 billio
The listing at the time told prospective buyers they could 'discover absolute nirvana in this World-Class Oceanfront Estate.'
To get to the main house, it says, homeowners must 'enter through the private front gate to the long driveway that winds past the tennis court, detached guest house and expansive lawns and leads to the graceful two-story main house.'
'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,' Jade Mills, a real estate agent with Coldwell Banker Realty, wrote.
She added that the 'exceptional oceanfront compound offers the ultimate resort lifestyle located on one of the most incredible bluffs and beaches in the world.'
It was previously owned by Gustavson's late father, B Wayne Hughes, who bought the mansion for around $20million in 2003, according to the Wall Street Journal.
He had made his fortune as a cofounder of the self storage giant Public Storage in 1972, and had passed away last year.
It is now the highest price paid for a home in Malibu this year, and the most ever an African American has spent on a home. (The previous record was held by Beyonce and Jay-Z, who bought an $88million compound in Bel-Air in 2017).
Allen, 61, started off as a standup comedian, putting together his first routine at the age of 14 and appearing at amateur comedy clubs throughout the Los Angeles area throughout his teens. He is pictured here with Skip Stephenson in an undated picture from NBC Universal
On his show Entertainers with Byron Allen, he interviewed and profiled movie and television stars. Allen is pictured here with Brooke Burns at the Comic Unleased party in September 2006
Allen earned a star on the Hollywood Walk of Fame last year. He is pictured with Jon Kelley, CEO of The Recording Academy Harvey Mason Jr., Kevin Frazier, Leron Gubler, Nicole Mihalka, Chair of the Hollywood Chamber of Commerce, and Lupita Sanchez Cornejo
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Get your 40 acres and a mule
I envy him, I am waiting to hit the lottery.
100 million, how many people are going to live that mansion. A waste of money
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