Jay-Z and Beyonce purchase most expensive home in California

Jay-Z and Beyonce have snagged one of the greatest architectural masterpieces in the US, a 30,000 square foot home in the prime area of Malibu and according to TMZ, they paid a King's ransom.

TMZ says according to real estate sources, the couple paid US$200 million for the property, making it the most expensive home ever sold in the entire state of California, eclipsing the previous record of US$177 million. It's also the second most expensive real estate deal in the US - the top being $238 million for a New York City apartment.