Jeff Bezos May Be Worth $186B, But He Once Paid $600K A Month In Rent To A Legendary Musician

Jeff Bezos may be the second-richest person in the world, yet in 2023 he chose to pay rent instead of living in a home he owns.

The unique story involved legendary musician and saxophonist Kenny G and even involved spousal payments and a protective order on the home.

What Happened: In 2023, Bezos and his fiancée, Lauren Sanchez, rented a home in Malibu, California, owned by musician Kenny G, for $600,000 per month while waiting for the completion of their new house in Florida, which they planned to move into in 2024.

The Malibu estate, which Kenny G purchased in 1998 for $12.5 million, features a 5,500-square-foot main house, a 3,500-square-foot guesthouse built in 2006, a tennis court, a recording studio, and access to Little Dume Beach.

The rental agreement did not include furnishings, so Kenny G’s items were put in storage while Bezos and Sanchez decorated the home with their own belongings. During this period, Bezos and Sanchez also took possession of their $500 million yacht.

The situation became complicated in early 2024 when Kenny G’s ex-wife, Lyndie Benson, claimed he violated their divorce agreement by renting out the home instead of selling it, The Daily Mail reported. She sought a share of the rental income, but a judgment issued a protective order preventing her from forcing the sale of the home.

Additionally, Kenny G lost his attempt to end $40,000 per month in spousal support payments to Benson after the rental income from Bezos became known.

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Why It's Important: The fact that Bezos, who is worth $186 billion, rented a home for such a high amount ($600,000 per month, $7.2 million for the year) puzzled the public. After all, his portfolio of properties includes homes in Hawaii, New York, Texas, Washington D.C. and Washington and is worth around $500 million.

Add in the $25 million per year it costs for Bezos' super yacht to operate, and you have $32.7 million in additional expenses in 2023.

Malibu, however, is a market for the ultra wealthy, with increased demand and limited supply making it harder to secure property in the city.

Jay-Z and Beyonce paid $200 million in cash for a Malibu home, marking the most expensive home purchase in the state of California ever.

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This article was previously published by Benzinga and has been updated.