Despite a combined net worth nearing $3 billion, Jay-Z and Beyoncé have quietly taken out a second mortgage on their $88 million Bel Air mansion, raising their total debt on the home to $110.55 million. The move has prompted questions online about why one of the wealthiest celebrity couples would opt for such a sizable loan.
According to the Daily Mail, property records show the pair secured a $57.75 million loan this past April through Morgan Stanley Private Bank. The 30-year mortgage, with an interest rate of 5% locked in for the first decade, adds to a previous $52.8 million mortgage taken out four years ago from Goldman Sachs at 3.15%. Combined, the couple now pays around $637,000 per month on mortgages and property taxes alone.
Jay-Z and Beyoncé purchased the Bel Air compound in 2017 and chose to keep it even after buying a $200 million Malibu estate in cash last year, a record-setting sale at the time. The Bel Air home is still their main house and is closer to their kids' school. The couple is parents to three children: Blue Ivy, 13, and twins Rumi and Sir, 8.
But they didn't sell the Bel Air home after the Malibu purchase — instead, they realized a second mortgage that carries monthly payments of $310,000. That's property tax for just 2024 –25 estimated to exceed $1.2 million.
The compound-size mansion on the stretch features eight bedrooms, 11 bathrooms, four swimming pools, a wellness center and 15-car garage. The home, constructed by developer Dean McKillen, is set on two acres and includes six connected glass structures framing sweeping views of Los Angeles.
Strategic Debt or Cash Flow Concerns?
While some speculate the second mortgage could be a strategic financial move to free up cash for investments, others online have dubbed the couple "broke billionaires." Taking out a second loan just after dropping $200 million in cash on another property has only added to the speculation.
Jay-Z, 54, and Beyoncé, 43, have long maintained a diverse real estate portfolio. In addition to the Bel Air and Malibu estates, they own a $26 million property in East Hampton and an $6.85 million penthouse in Tribeca, New York.
Read more: Beyoncé's Team Robbed Ahead of Atlanta Show as Hard Drives With Unreleased Music Reportedly Stolen
Legal Heat and Industry Pressure
Meanwhile, Jay-Z is facing growing legal pressure on two fronts. In one federal lawsuit, New Jersey man Rymir Satterthwaite claims to be the rapper's son and alleges a decades-long effort to avoid DNA testing. Jay-Z's attorneys have labeled the suit "harassment" and noted the case has been dismissed in multiple courts. But Satterthwaite has reportedly dropped the lawsuit as of writing.
Separately, Nicki Minaj has accused Jay-Z of shortchanging her in Tidal's 2021 sale, claiming she's owed between $100 million and $200 million in equity. She alleges she was offered only $1 million for her shares.
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