Jeff Bezos, the founder of Amazon, and his fiancée Lauren Sanchez are currently renting a lavish oceanfront property in Malibu owned by smooth jazz saxophonist Kenny G. The monthly rent for the property amounts to an astounding $600,000. The total cost of renting the Malibu property is expected to reach approximately $7 million per year. This rental is among the extravagant real estate choices made by wealthy individuals in the exclusive area of Malibu, which has seen skyrocketing property values in recent years.
Jeff Bezos, the prominent figure behind Amazon, possesses an extensive collection of real estate properties that encompass various locations such as a vast beachfront estate in Maui, as well as properties in Washington and New York states. Bezos and his new fiancée Lauren Sanchez, who have just returned from their voyage sailing across Europe on Bezos’s extravagant $485 million yacht, are currently renting a luxurious property in Malibu. Surprisingly, the home belongs to the renowned smooth jazz saxophonist Kenny G, and the monthly rent amounts to a staggering $600,000.
According to TMZ, the couple has been residing in the oceanfront residence since March. They have chosen to lease the house without any furnishings, as all of Kenny G’s belongings have been placed in storage to accommodate the couple's own furniture and decor.
It appears that they will continue to stay in this Malibu residence until the construction of their enormous mega mansion in Beverly Hills is completed. The construction of their 15,000-square-foot home has been temporarily halted while awaiting approval for certain aspects.
According to records, back in 1998, the acclaimed Grammy-winning artist Kenny G bought the Cape Cod-style compound on Grayfox Street for $12.5 million. The property consists of six bedrooms and spans over 5,400 square feet. In 2000, Kenny G expanded his property by purchasing the neighboring 1.06-acre lot. He proceeded to construct a separate retreat on this lot, which was finished in 2006. The retreat spans approximately 3,500 square feet and is believed to have cost around $3 million to build.
This additional property features two bedrooms, four bathrooms, a spacious dining area with seating for 16, a pool table, a terrace, and a bar that was specially designed by Rande Gerber, who is married to Cindy Crawford. Outside, there is a tennis court and a recording studio measuring 1,500 square feet. The combined estate, including the additional retreat, spans across 2.5 acres and offers exclusive access to the prestigious Little Dume Beach.
While awaiting the completion of their Beverly Hills mansion, the total cost of renting the Malibu property will amount to approximately $7 million per year. Although the rental comes with a substantial price tag, it is not the most expensive rental in the area. Back in 2015, there was a 22,000-square-foot Malibu estate available for rent, featuring a 168-foot-long infinity pool, at a staggering monthly price of $750,000.
Historically, the beach town of Los Angeles has been reserved for the wealthy and famous. However, in recent years, even millionaires have found it challenging to acquire properties there, as the community has become exclusive to the ultra-rich. Tech magnate Larry Ellison, who has been a significant investor in the area for nearly three decades, initiated the trend of skyrocketing property values in Malibu.
Only in the previous year, Marc Andreessen, a venture capitalist, and his wife Laura Arrillaga-Andreessen acquired three distinct properties in Malibu, amounting to a total of $255.5 million. Similarly, Beyoncé and Jay-Z recently made an extravagant purchase of a Malibu retreat, paying an astonishing $200 million in cash. This acquisition marks the highest-priced residential property ever bought in California.
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