Kanye West simply can’t catch a break relating to that notorious Malibu seashore home he fully destroyed.

The concrete shell that was a $57 million architectural masterpiece is now being pitched as a members-only timeshare – if the man who purchased it from Ye would possibly lose it to foreclosures. Steven “Bo” Belmont, the developer who scooped up West’s gutted catastrophe for $21 million again in September 2024, has been scrambling to make one thing work with this property ever since.

First, he tried flipping it for $39 million, then dropped it to $34.9 million when no person bit.

According to Realtor.com, Belmont goes full Silicon Valley startup mode with one thing referred to as “Populis” – principally turning the place right into a luxurious actual property timeshare the place wealthy people should buy “memberships” to get a chunk of the motion.

You can drop wherever from $1,000 for a fundamental “gold” membership to $300,000 for the “Founders Circle” bundle. That top-tier membership will get you chef dinners, concierge service, and 4 personal property periods a 12 months the place you’ll be able to deliver as much as 12 friends.

But Belmont’s bought greater issues than determining his membership tiers.

Quality Loan Service Corp simply hit him with a discover of default, claiming he owes $814,623.54 on his $18.5 million mortgage as of November 4. He’s bought 90 days to catch up or threat dropping the entire thing to foreclosures.

Kanye West initially purchased this place in 2021 for $57.3 million, proper after his break up from Kim Kardashian. The Tadao Ando-designed masterpiece was imagined to be his inventive sanctuary, however Ye turned it into his private demolition undertaking.

The rap star ripped out every thing – plumbing, electrical, home windows, inside finishes – principally turning a murals right into a concrete bunker. When West lastly gave up on his apocalypse-shelter desires and listed it in January 2024, he needed to accept the $21 million from Belmont. That’s a $36 million loss.

In 2025, West began liquidating properties left. He bought his Wyoming ranch again to the unique homeowners for $14 million after letting it collapse, and he’s behind on property taxes for his childhood residence in Chicago.

Reports say he’s “desperate for money” and others declare he can be bankrupt by the top of 2026.

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