Kanye West reportedly borrowed some big money from some unconventional places in order to purchase the $35 million Beverly Hills mansion he closed on last month.
According to a report from the Daily Mail on Monday (November 11), Ye and wife Bianca Censori borrowed a total of $15.5 million.
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Twelve and a half million dollars of the total came from Lone Oak Fund and its investment arm Lone Oak Industries, and nearly $2.7 million came from a company owned by fitness entrepreneurs Richard and Lucy Glassman, via a private money lender whose motto is “when the banks say no, private money is the only way to go.”
The Glassmans spoke to the outlet about their decision to fund Ye, saying, “When you have a total of 40 percent loan to value, it’s a good investment. This is the great creativity of the broker, it’s not the creativity of Kanye West, they do all the due diligence, I’m just the little guy. To be totally honest, sometimes when investors look at celebrities, they don’t want to do it. Well, it definitely is, because if they don’t pay, we get a $35 million property.”
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He added: “But we would prefer they just pay, we don’t want to hurt nobody, we’re just investors. We want to get a return on our money.”
The lavish, 20,000-square foot compound comes with 11 bedrooms, 18 bathrooms, a guest house, a swimming pool, a tennis court and even its own waterfall.
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According to the report, Kanye West does not plan to live there, but instead rent it out.
Fans may remember that Ye was originally planning on building his own city in the Middle East, with the project titled YZY DROAM.
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A post by the rapper on social media suggests that he may be working on bringing his bold ideas to Beverly Hills.
The rap legend hinted that he has grand plans for his new estate, posting a bird’s eye view of the house on his Instagram Stories along with the scribbled caption “DROAM.”
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Back in 2023, Kanye was seeking project managers, engineers, architects and contractors for his Middle East project which was intended to span 100,000 acres.
The Chicago native previously planned to build his own city in Wyoming in 2020, but his plans were shut down by the state.
Dubbed YZY CITY, it was described as a “hyper-utilitarian” underground community that could accommodate 200 people and promoted a closed loop of self-sustainable living.
In 2022, it was also reported that West had filed trademark applications that would allow him to create his own mini-community known as the “Yecosystem.”
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Sources close to the rapper told Rolling Stone that the campus would boast branded homes and retail stores that sell Yecosystem-branded food items and beverages, with plans to build more across the U.S.
