THE Kardashian family may be one of the richest in the world, but the reality stars have taken out massive home loans on their mega-mansions, which run to $132million combined.
Despite Kim and co being worth more than a billion dollars, they’ve stacked their luxury properties with huge amounts of borrowing, The U.S. Sun has exclusively learned.
5
Kim Kardashian is undertaking a complete remodel of her new $70.4 million dollar Malibu mansionCredit: BackGrid
5
Kourtney Kardashian took a mortgage out on her huge Calabasas mansion she shares with Travis Barker and their kidsCredit: Coleman-Rayner
Last month, we revealed Kim had taken out a $48million mortgage on the $70million Malibu property she bought in September, which is undergoing a big renovation.
But this is just the tip of the iceberg, as sisters Kourtney, Kylie, and Kendall Jenner have also laden their luxury homes with vast debt, as has mom Kris.
In total, the family quintet has borrowed $132million, according to property records seen by The U.S. Sun.
While filings show that Kris paid for her most recent $20million home in Hidden Hills outright, the same can’t be said for the house she bought in 2010 for $4million which was her long-term place for years, and featured heavily on Keeping Up With The Kardashians.
She borrowed $2.4million in October 2015 and $2.11million in March 2018, but just a few months later Kris went big on the borrowing.
5
Momager Kris Jenner and most of her famous children have borrowed money for their luxury homesCredit: E! Entertainment
The famous momager first of all took out a loan for $7.25million in August 2018.
But, the following month, that was superseded by a new agreement for a whopping $40million loan through the financial company Crosswind Venture Fund, which is ten times more than what she paid for the house.
Then, in January 2019, she borrowed $5.2million, and $5.25million in June of that year, according to property records.
This took Kris’ borrowing up to $62.21 million, which was secured by the property and her other assets.
The borrowing was done through trust deeds, which is similar to a mortgage but involves a third party, a trustee, holding the legal title for the property.
You have to admire Kris’ tolerance for risk.”
LA Realtor Tony Mariotti
As most celebrities want to keep their identity secret, their business manager is usually the trustee.
In this case, it’s Lester Knispel, who for years has been the Kardashians’ “money man”.
It’s worth noting that property records don’t show whether a “deed of trust” has been paid back, so Kris may have repaid some of the loans by March 2023.
LA realtor Tony Mariotti, CEO of RubyHome Luxury Real Estate, explained why celebrities such as the Kardashians take on, what appear to be, huge financial risks – but he says could lead to bigger returns on their investments.
He told The U.S. Sun: “Taking on debt always carries risk. Even riskier is when the loan amount exceeds the value of the home.
“Kris is levering up more than other family members, and leverage needs to be managed well, or it can blow up in your face.
“You have to admire Kris’ tolerance for risk, though. No one gets ahead without making a few business bets.
“I think, for entrepreneurs, the cost of doing nothing is more painful than pushing your chips into the middle of the table and seeing if you’ve got the winning hand.”
BIG BORROWING
Kris’ case is the most complicated out of the Kardashians, whereas records show that daughter Kylie Jenner borrowed $7.5million in April 2020 when she paid $36.5million for a stunning six-bedroom mansion in Holmby Hills.
The deal went through controversial business manager Lou Taylor, who has negotiated some of the family’s recent property transactions despite her connection to Britney Spears.
In November 2021, Taylor’s company Tri Star Sports and Entertainment Group said they had nothing to do with the pop star being monitored or controlled through her medication during the 13-year-long conservatorship under dad Jamie, with Taylor being involved for 11 of those years.
Britney’s lawyers are still investigating claims that her finances, worth $60million, were mishandled by Taylor and her father – which is a key part of her “conservatorship abuse” legal case against Jamie, which she has denied.
Meanwhile, Kourtney Kardashian has been at her six-bedroom, nine-bathroom Calabasas place for eight years paying $7.45million in February 2014.
In January the following year, she took out a deed of trust for $5.2million and another one in February 2017 for $5.19million – totaling $10.39million – both arranged through financial guru Lester Knispel.
The final member of the family to have taken out a home loan is model Kendall Jenner.
She bought her five-bed, six-bath Beverly Hills place for $8.55million in August 2017 and saddled it with $4.625million worth of borrowing, also arranged through Knispel.
5
Kris Jenner has borrowed millions on her homes but paid for her new abode outrightCredit: Getty
5
The Kardashian-Jenner family’s luxury homes feature on their popular Hulu showCredit: 2022 Hulu
News
Taylor Swift lands in Kansas City to see boyfriend Travis Kelce and the Chiefs face off against the Las Vegas Raiders in Christmas Day showdown
Taylor Swift has landed in Kansas City to see boyfriend Travis Kelce in action as the Chiefs take on the Raiders on Christmas Day. Kansas City welcomes Las Vegas to Arrowhead – with kick-off at 1pm…
Taylor Swift screams her support for boyfriend Travis Kelce while wearing a Christmas hat with his jersey number on at Arrowhead… after jetting in to Kansas City from Nashville with her mom and dad
Taylor Swift was seen screaming for boyfriend Travis Kelce as the Chiefs tight end tried to drag his team to victory over the Raiders on Christmas Day. The pop sensation jetted into Kansas City…
Taylor Swift legs it around NYC in a stylish outfit as insiders reveal she’s had ‘deep conversations’ with Travis Kelce about ‘their future together’
Taylor Swift put on a stylish display while out in NYC on Thursday as insiders revealed she’s had ‘deep conversations’ with Travis Kelce about ‘their future together’ – just four months after being…
Taylor Swift RESPONDS to tearful single mom’s touching story about how singer impacted her relationship with daughter …
Taylor Swift was left ‘so moved’ after learning how she made 2023 a year to remember for a single mother and her nine-year-old daughter. In a TikTok video uploaded…
Inside Taylor Swift and Travis Kelce’s relationship as insider reveals how he uses different flowers to woo her.TH
Kansas City Chiefs tight end is embracing his new relationship with the global superstar singer TRAVIS KELCE is pulling out all the stops to show his love…
Kim Kardashian gives a shout out to Kylie Jenner’s boyfriend Timothee Chalamet as fans suspect couple secretly split
KIM Kardashian has given a shout-out to sister Kylie Jenner’s boyfriend, Timothee Chalamet, in a new video amid breakup rumors. In an Instagram Story, Kim, 43, gave followers…
End of content
No more pages to load