The long, strange saga of the Tadao Ando-designed house in Malibu, which Ye, formerly known as Kanye West, once bought, gutted, and then left to the winds, has turned its next chapter. Once compared to a rare Picasso, this concrete gem just changed hands for $21 million- quite the drop, a hefty $36.3 million less than the 'Vultures' rapper shelled out during his glory days in 2021. However, the person now holding the keys to this so-called cursed mansion has a colorful past of his own, which he has just decided to spill.

The new owner of the Malibu mansion has recently come out to share his ambitious plans for what was once Ye’s prized Malibu estate.

Steve Belmont, the founder of Belwood Investments, is the new owner of Ye’s Malibu mansion- a property that the rapper thoroughly destroyed. He recently chatted with the Wall Street Journal about how the deal came to be and shared his journey into the real estate game. Interestingly, Belmont started his business as a side hustle while serving three years behind bars for assault with a deadly weapon.

After his arrest in 2013- the very same year the mansion was completed- Belmont set up a little office to flip houses, while he was in the prison. When he was released in the year 2018, Belmont established Belwood Investments, a crowd-sourced real estate investment fund, which has been involved in more than 1,000 property transactions so far. However, the Malibu mansion purchase is Belwood’s biggest deal to date, although Belmont is not exactly thrilled with what Ye has done to the property in the past few years. 

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Last month, Belmont slammed Ye’s alterations to the Malibu mansion, while planning to restore the estate to its former glory. 

After acquiring the Malibu mansion, Steve Belmont told the Times that he sees Ye's changes to the property as “mostly cosmetic.” He took a jab at Ye's decision to strip the glazing from the floors, transform stairs into slides, and turn floors into trampolines, stating, “That was a really dumb move. Really no purpose”. Despite those questionable tweaks, the luxurious property still checked all the boxes for Belwood’s requirements, as Belmont previously shared with Realtor.com.

Belmont, nonetheless, has big plans for a full makeover of the place. He looks forward to teaming up with the original builders for Richard Sachs, the mansion’s first owner. The strategy now is to invest millions into renovations to revitalize the property from Ye's destruction, before flipping it for a sweet profit for other investors.

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What do you think about the new owner of Ye’s Malibu mansion? Let us know your thoughts in the comments below!