Nicole Richie and Joel Madden Sell $10 Million Beverly Hills Mansion After Hefty Price Cut
The stars' original asking price for the 6,100-square-foot home was $12.95 million
Richie and Madden first listed the property in July 2024 just days after Madden's twin brother Benji and his wife, Cameron Diaz, listed theirsNicole Richie and Joel Madden have sold their Beverly Hills mansion — after slashing the price by nearly $3 million.
The Simple Life alum, 43, and Good Charlotte frontman, 46, sold the 6,100-square-foot home for $10,183,985 on May 30, according to property records. The original asking price for the Parisian-style abode was $12.95 million, meaning the couple slashed the price by about $2.77 million before finding a buyer.
The four-bedroom, 5.5-bath home is located in an exclusive and star-studded gated community in Beverly Hills and features a three-car garage, a library equipped with a fireplace, and a spa, according to the listing. Outside, the luxury home boasts a swimming pool and olive trees.
The couple first purchased the property in 2021 after selling their previous residence, according to Realtor.com. Before the couple moved in, the property was featured in Architectural Digest in a piece highlighting Simo Design, the Los Angeles-based designers who reimagined it.
After the home's makeover, the designers put the home on the market in 2020 for $13 million, and later reduced the asking price to $12.4 million before selling to Richie and Joel, per Realtor.com.
The stars — who have been married since 2010 and are parents to two teenagers, Harlow, 17, and Sparrow, 15 — first put the property on the market last summer, just days after Madden's twin brother Benji and his wife, Cameron Diaz, listed theirs.
Richie and Joel's listing went live on July 12, while Benji, 46, and Diaz, 52, listed their home on July 9.
The Holiday actress and Good Charlotte guitarist put their compound, situated in the Benedict Canyon neighborhood, up for sale for $17.8 million, according to Realtor.com. The longtime couple — who wed in January 2015 and share kids Raddix, 5, Cardinal, 1 — first bought the seven-bedroom, 8.5-bath mansion home in 2020 for $14.7 million.
At the time, a source revealed to PEOPLE why Diaz and Benji decided to let go of the home.
"They have multiple residences in Los Angeles and are choosing to let go of the Benedict property so that they can take residency at another one of their homes," the insider said.
Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories.
Both couples keep their marriages largely out of the spotlight. The twin Good Charlotte rockers did, however, recently open up about their 'healthy fear' of their wives while appearing on Rob Lowe's SiriusXM podcast Literally! in March.
"They are absolutely our counterparts, and we all have a healthy fear of our wives... I don't know if I ever thought someone could keep me," Joel said "I was a relationship guy, but then I met Nicole, and she absolutely runs the show — but we are partners."
The former reality star, Joel continued, "gave me a way deeper, richer life because of the aspects of my life that she oversees, she runs, and vice versa. We work together, but she's strong. I respect her and fear her a little bit."
"That's the queen," Benji later added of Diaz. 'Go against my wife? Good luck. I don't even need to get involved."
Read the original article on People
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
Sponsor branding finally removed ahead of new season beginning
The branding of Nationwide has finally been removed from the Nigel Eady County Ground after they ended their sponsorship of Swindon Town. In May, it was announced that the Swindon-based building society Nationwide would end its long-standing partnership with Swindon Town, having been involved with the club across two spells during 20 of the last 28 years. The agreement officially came to an end on May 31, with the deal that saw Nationwide sponsor the Don Rogers Stand and obtain a ticket discount for their employees. Swindon Town Chief Commercial Officer James Watts revealed the move came after 'an internal business review' at Nationwide, and the company said they had been 'honoured' to have supported the club. Despite the agreement ending over a month ago, their branding remained on the Don Rogers Stand and inside the ground until last week, when it was finally removed. The branding remained on the outside of the stand, and also on advertising hoardings inside, but was removed before the beginning of the new season, with Swindon set to host Cambridge United on August 9. Swindon have been pursuing new agreements for sponsorship of the Don Rogers Stand, although, as yet, no deal has been struck.
Yahoo
27 minutes ago
- Yahoo
Ardian rolls out US Access Fund
Ardian, a worldwide private investment firm with $180bn in assets, has introduced Ardian Access, an investment vehicle designed to provide accredited US investors direct access to private equity opportunities that are traditionally reserved for institutions. Ardian Access, incorporated under the Investment Company Act of 1940, provides flexible and diverse access to Ardian's secondary, primary, and direct co-investment strategies. The fund is aimed at investors looking for greater access to private markets and to diversify their portfolios through global exposure. With a minimum investment of $25,000, Ardian Access is intended to appeal to a broader variety of accredited investors than standard private equity offerings. The fund will be evergreen, allowing for ongoing inflows and prompt capital deployment, which is uncommon in private markets. The fund will use Ardian's secondary and co-investment platforms, which collectively manage more than $104bn. Over the last four years, the firm's secondaries team has negotiated more than $40bn in transactions, while its co-investment arm has supported more than 140 portfolio businesses alongside top sponsors. Moreover, the fund is designed to mitigate the common obstacles that private market investors experience, such as the J-curve effect, by investing in a diverse portfolio of global private assets managed by established General Partners across many sectors and locations. Mark Benedetti, Executive President at Ardian stated: 'Ardian's Private Wealth Solutions team has experienced remarkable growth by strategically responding to the evolving needs of private investors and wealth managers and is a vital part of Ardian's positioning in private markets. Ardian Access represents our continued expansion, bringing our proven track record in secondaries and co-investments to sophisticated investors seeking scalable solutions.' Michael Bane, Head of Americas Investors Relations and Senior Managing Director at Ardian added: 'Creating Ardian Access LLC was necessary and logical. We wanted to serve Ardian's core competencies to a broader audience, allowing private wealth investors access to the performance our institutional investors have benefitted from since our inception. We seek to provide clients with broad, global private markets exposure to help fill the gaps in their portfolios – this vehicle delivers a professionally managed solution that brings to bear even more of Ardian's differentiated expertise.' According to the firm, investors will benefit from Ardian's enormous proprietary database, which includes over 650 GP's, 1,600 funds, and 10,000 portfolio firms, as well as insights from over 125 private markets specialists operating in 20 global offices. Furthermore, Ardian has already tested this approach in Europe, having successfully launched Ardian Access FCPR in France. Following the US debut, the business will launch Ardian Access SICAV-RAIF, a Luxembourg-based evergreen fund with a similar investment strategy, to accommodate growing global demand. This move represents a key milestone in Ardian's continued growth into the private wealth market, which was formerly controlled by institutional capital and ultra-high-net-worth individuals. The offering is still subject to regulatory approvals and consultations with relevant employee representative bodies. "Ardian rolls out US Access Fund" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Bloomberg
30 minutes ago
- Bloomberg
UK to Grow Faster Than European Peers for Two Years, IMF Says
Britain will grow faster than any other major European economy this year and next but continue to lag behind the US and Canada among Group of Seven industrialized nations, according to the International Monetary Fund. In an update to its World Economic Outlook, the Washington-based economic supervisor raised its global growth forecasts to reflect both the improved trade backdrop and the fiscal stimulus from President Donald Trump's One Big Beautiful Bill Act.
