Billionaire Byron Allen Makes History With Most Expensive Home Purchase by an African American in the U.S.

Subject

Byron Allen; Billionaire; Allen Media Group

Description

Malibu’s Paradise Cove neighborhood is getting a new resident: billionaire media mogul Byron Allen.

The Los Angeles-based Allen Media Group / Entertainment Studios chairman and CEO, whose company is valued at more than $4.5 billion and is the largest privately held media company in the United States, reportedly paid $100 million — the most ever for an African American buyer in the U.S. The 10,698-square-foot home sits on 3.6 acres above the beach and boasts eight bedrooms and 12 bathrooms.

Allen will now call WhatsApp co-founder Jan Koum, who owns a nearby $190 million compound on the bluff, a neighbor. Allen’s new property has been on the market since May and was initially listed for $127.5 million, The Wall Street Journal reported.

Creator

BY EVAN NICOLE BROWN

Source

https://www.hollywoodreporter.com/lifestyle/real-estate/byron-allen-makes-history-expensive-home-purchase-1235239625/

Publisher

hollywoodreporter.com

File

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