Kanye West’s former Malibu home changes hands again after earlier Populis plans

By Judy Abel · Fri Aug 21 2026

Property records show the Tadao Ando-designed Malibu Road residence sold for approximately $22.12 million in July; its current ownership and future plans remain unclear

Correction and Update — Aug. 22: An earlier version of this article incorrectly reported that Kanye West’s former Malibu Road property was currently being offered through the Populis membership program. That information was based on reports from December 2025. Public property records indicate the property subsequently changed hands on July 7, for approximately $22.12 million. The article has been updated to reflect the most current publicly available information.

The unusual saga surrounding Kanye West’s former Malibu Road home has taken another turn, with property records indicating the architecturally significant beachfront residence changed hands again this summer.

The property at 24844 Malibu Road sold on July 7, for approximately $22.12 million, according to publicly available real estate records. Records associated with the transaction indicate a trustee-related transfer following financial and legal troubles involving the property's previous ownership.

The identity of the new buyer has not been widely reported, and it remains unclear what the latest transaction means for previously announced plans involving Populis, a private real estate investment membership program.

Those plans were reported in December 2025, when the Malibu property was being promoted as part of the Populis concept. The private, invite-only program was presented as a way for members to obtain an economic interest in high-end, architecturally significant properties rather than purchasing an entire residence.

The Malibu home was among the first properties associated with the concept, with membership levels reportedly ranging from $1,000 to $300,000 and higher-tier memberships offering stays at participating properties and other benefits.

However, the property's ownership and financial circumstances continued to evolve after those plans were announced.

The roughly 4,000-square-foot oceanfront residence was designed by acclaimed Japanese architect Tadao Ando and purchased by West, who now goes by Ye, in 2021 for approximately $57.3 million.

West subsequently undertook a controversial renovation that stripped the residence of its interior finishes, windows, doors, electrical systems and other elements, leaving largely its concrete structure intact. He later abandoned the project and placed the property on the market in 2024, initially asking $53 million before reducing the price.

Steven “Bo” Belmont of Belwood Investments purchased the unfinished residence from West in September 2024 for $21 million, representing a loss of more than $36 million from West's original purchase price.

Belwood announced plans to restore the Ando-designed residence and sought individual investors to participate in the project. The property was later offered for sale again, but its financial situation became increasingly complicated.

Belwood subsequently encountered financial difficulties involving the project, leading to bankruptcy proceedings and a dispute with lender MZ Brokerage. Court proceedings ultimately cleared the way for the lender to move forward after Belwood's bankruptcy filing was determined to have been made in bad faith.

The property's latest transaction occurred on July 7, when records show a sale price of $22,120,587. Property records identify the transaction as involving a trustee's deed, a type of transfer commonly associated with foreclosure proceedings.

The approximately $22.12 million price is only modestly higher than the $21 million Belwood paid West for the property in 2024 and substantially below the home's previous asking prices.

What happens next to the rare Ando-designed residence remains uncertain.

Publicly available information has not yet clearly identified the new owner or disclosed whether the buyer intends to complete the restoration, sell the property again or pursue another plan for the site. It is also unclear whether the Populis concept has any continuing connection to the property following the July transaction.

Editor’s Note: This article was corrected and updated on Aug. 22, to reflect the most current publicly available property records and to clarify that previously referenced information regarding the Populis membership concept was based on reporting from December 2025.