In March 2022, rapper Drake made headlines with a staggering $75 million purchase of a sprawling 20-acre estate in Beverly Hills from British musician Robbie Williams. Originally an off-market transaction, the acquisition showcases the artist’s commitment to luxury living amid a changing real estate landscape.
High-End Acquisition in Beverly Hills
Drake’s purchase of the lavish estate, which was never publicly listed, closed for around $75 million, as confirmed by property records. The seller, Williams, had acquired the property in 2015 for $32.7 million from Armand Marciano, co-founder of Guess? jeans, who built the mansion in 2001.
Situated at the end of a long private driveway, the estate boasts an impressive 24,000 square feet of living space, featuring 10 bedrooms and 22 bathrooms. It also includes notable amenities such as a hidden tennis court, a large mosaic-tiled swimming pool, an 11-car garage, a wine cellar, a gym, and a game room, along with three ensuite staff bedrooms equipped with their own kitchen. The property offers breathtaking views of the city, canyon, and ocean, framed by meticulously landscaped gardens.
Market Challenges and Changing Strategies
After securing a massive deal with Universal Music Group worth between $300 million and $400 million, Drake’s net worth reportedly soared to a quarter-billion dollars. However, by May 2023, he appeared to have second thoughts and listed the mansion for $88 million, aiming for a $13 million profit amidst economic uncertainty.
The luxury market in California has faced challenges, marked by rising interest rates and the introduction of a new “mansion tax” in Los Angeles, which adds a 5.5% surcharge — equating to $4.8 million — on properties over $10 million. Unable to find a buyer after several months, speculation arose that the sale reflected more than just financial considerations, with Drake’s ongoing public feud with fellow rapper Kendrick Lamar contributing to perceptions about his desire to sell.
In an attempt to pivot, Drake offered the estate for rent at $250,000 per month, but this strategy also failed to attract interest. Recently, the asking price was reduced to $79 million, a slight increase from the original purchase price but still challenging given the sluggish luxury real estate market.
Regardless of the fate of this Beverly Hills mansion, Drake’s real estate portfolio remains impressive, featuring a 50,000-square-foot custom-built mansion in Toronto’s Bridle Path neighborhood, complete with a regulation-size indoor basketball court. Additionally, in 2023, he purchased a 300+ acre luxury ranch resort in Brenham, Texas, for $15 million.
As the property in Beverly Hills continues to sit on the market, time is of the essence for Drake in navigating this high-stakes real estate landscape.
Meet William, a proud Bethel University alumnus with a fervent passion for lifestyle and culture topics. His keen interest doesn’t stop there; he’s also deeply engrossed in current events of all kinds. William dedicates himself wholeheartedly to this site, thriving on the collaborative energy he shares with Suzanne, his long-standing partner in crime.
Having navigated their university courses side by side for years, their teamwork on the site is nothing short of dynamic. Together, they bring a unique blend of insights, proving that two heads are indeed better than one in delivering compelling content.
