Media Mogul Byron Allen Buys $100 Million Malibu Mansion, Marking The Biggest Home Sale For An African American
Television mogul Byron Allen bought himself a $100 million mansion in Malibu, making this the biggest home sale for a Black person in the U.S.
According to reports, Byron Allen dropped $100 million on an 11,000-square-foot estate in Malibu. The property includes all the bells and whistles: a four-bedroom house with two guest houses including a home theater, tennis court, gym, and yoga studio, all on a breathtaking, expansive lot. The primary suite has its own fireplace, bathroom, custom walk-in closets, and private terrace.
Allen’s new mansion sits on a bluff overlooking the Pacific Ocean, so the home is filled with amazing ocean views. There’s a winding path from the home, down to the beach. Byron also has the option of hopping in a golf cart if he doesn’t feel like walking to the coastline. It’s almost as if the billionaire has his own Malibu resort.
Reportedly, this $100 million purchase is the most money an African American has ever spent on a home in the United States, with Byron Allen toppling the prior record of $88 million that Beyoncé and Jay-Z spent on their Bel-Air mansion.
Byron bought the Malibu mansion from the family who co-founded Public Storage.
The media mogul recently made headlines when his $10 billion lawsuit against McDonald’s got the go-ahead from a Los Angeles judge to move forward. In May of 2021, Byron Allen filed legal claims that McDonald’s is racially discriminative due to their refusal to place advertisements on Black-owned media channels.
Byron Allen’s production company, Entertainment Studios, owns a total of 12 networks, including its most well-known one, The Weather Channel. According to the comedian-turned-businessman, McDonald’s has reportedly denied contractual opportunities to market on every single one of Entertainment Studios’ outlets — this includes; Weatherscan, Local Now, Automotive.TV, Cars.TV, Comedy.TV, ES.TV, JusticeCentral.TV, MyDestination.TV, Pets.TV, and Recipe.TV.
Because of this, court documents read that Allen is going after the enterprise for $10 billion in damages. Additionally, he alleged that the enterprise has only given an estimated amount of 0.3% of its $1.6 billion annual promotions budget to Black-led corporations that specialize in Communications.
McDonald’s responded to Allen’s suit with a statement announcing its mission to increase diversity within its franchise.
“Together with our franchises, we have doubled down on our relationships with diverse-owned partners. This includes increasing our spend with diverse-owned media from 4 percent to 10 percent and with Black-owned media from 2 percent to 5 percent of total national advertising over the next four years.”
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