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African-American mogul and multiindustry creative Kanye West has placed his concrete Hollywood Hills mansion for sale for $3.69 million as he looks to book profit from the sprawling property he purchased a decade ago.
The sprawling property, spread over 4,214 square feet, boasts a modern concrete exterior, giving it a raw and natural look. Entering the property, the interior shines brightly, with hardwood floors, high ceilings, and smooth Venetian plaster.
West, who ranks as one of the world’s richest Black individuals, purchased the property, which consists of three bedrooms and four bathrooms, in 2003 for $1.75 million and is now selling it for $3.69 million, in a potential transaction that could see him pocket a gross profit of $1.94 million.
The latest move by West is part of a growing trend among famous African-American business moguls, as they continue to pocket millions of dollars from the sale of real estate properties they acquired years ago.
Earlier this year, African-American rapper turned business mogul Andre Romelle Young, Dr. Dre, sold his Mediterranean-style Calabasas mansion for $6 million. The mansion’s sale marks a $1 million gross profit for Dr. Dre, who bought the property in 2018.
In September 2022, Oprah Winfrey, the richest Black woman in the world, sold her Montecito estate in California for a profit of $6.6 million.
She bought the 2.1-acre property, which included a main house and cottages, in 2020 and divided the estate in 2021, selling the main house to Jennifer Aniston for $14.8 million and the cottages to her personal trainer for $2.3 million. The total sale proceeds were $17.1 million.
