Byron Allen has made history again, but this time, it’s outside the media industry.
The Wall Street Journal reports that Allen purchased a $100 million Malibu mansion. The deal is marked as the highest price paid by an African American buyer in the U.S.
Prior to Allen’s purchase, the 11,000-square-foot compound had been listed on the market since May for $127.5 million.
The Malibu estate is reported to have been previously owned by American billionaire Tamara Hughes Gustavson.
She inherited the home from her late father B. Wayne Hughes, who was the founder and chairman of Public Storage — the largest self-storage company. The businessman bought the mansion for around $20 million in 2003.
While Allen was represented by Terence Hill of BT Equities — an in-house agent with Mr. Allen’s family office — for the sale, Gustavson was represented by Ms. Mills, per the outlet.
A look into the $100 million Malibu mansion:
“It includes a large four-bedroom house and two small guesthouses,” the outlet describes. “The property includes a screening room, a dining room and large terraces. One of the more unusual elements for Malibu: a winding path allowing the owner to drive a golf cart or small vehicle down to the beach.”
As previously reported by AfroTech, a portion of Allen’s wealth can be credited to his hand in real estate.
Some Of Byron Allen's Residential Real Estate Purchases:
- Nearly $23 million island retreat in Hawaii (2018)
- $26.75 million Manhattan condo (2019)
- $19.9 million Beverly Hills mansion (2019)
- $27 million Aspen home (2020)
Byron Allen's Net Worth
According to Celebrity Net Worth, Byron Allen has an estimated fortune as of this writing.