For five figures, you can own a piece of Kanye West's unfinished Malibu house

"Belmont, who purchased the Tadao Ando-built home from West for $21 million in 2024, has big plans for this concrete slab in Malibu: turning it into a luxury community space for members in the vein of the Soho House. Belmont wants to let multiple people share in his property by selling paid memberships for access to the space and a share in its equity. There's just one complication: West famously gutted the home before selling it."

""The equity in this is built on the finishing of the property," Belmont told Business Insider. "So when they invest, those dollars go toward just moving that property down the line." Fractional real estate's main purpose is to democratize real estate investing so more people can get in on the action. Belmont is admittedly raising the barrier to entry with his latest venture, Populis, offering not just the potential to make money, but opulent experiences - like hanging out at events in a Tadao Ando-built beach house in Malibu once owned by a famous rapper."

""We made the entry a little bit higher, which tends to cater to more of an accredited investor," Belmont said. "But as we push through the luxury end of Populis, we will absolutely be spinning one out once we have the bandwidth to accommodate the full democratization of real estate and other goods, other real-world assets." The Malibu mansion is listed for $12 million by Christie's International Real Estate SoCal, but that doesn't tell the entire story."

Steven "Bo" Belmont purchased the Tadao Ando-designed Malibu home from Kanye West for $21 million in 2024 and plans to convert it into a members-only luxury community space modeled on Soho House. Belmont will sell paid memberships that grant access to the property and fractional equity stakes. The property requires finishing work because West gutted the house before selling, and investor funds will go toward completing the renovations and building equity. Populis positions fractional real estate as a democratizing tool but is initially targeting accredited investors, with plans to offer broader access later. The listing is presented as a fractional, not traditional whole-asset, offering.

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