Kanye West's $57 million mansion is reportedly rotting away after he shut down his construction company.

According to a report by UK's The Sun, published on Friday (May 26), Kanye West's Japanese-inspired mansion in Malibu, Calif., is reportedly rotting away after the rapper-producer quietly shut down his construction company, Yeezy Construction, Inc., last November. Since then, the home has been completely gutted in mid-renovation.

Kanye bought the Malibu mansion in September of 2021 at a discount. Initially, the home, designed by Ye's favorite architect Tadao Ando, was on sale for $75 million before being removed from the market. The property was meant to be "part house, part sculpture" with only a few Ando designs seen throughout America, but Kanye completely gutted the home and all that remains is a concrete shell and rusting balconies. There are also abandoned utility pipes underneath the property alongside the beach.

The Sun reports that Kanye's construction company was developed in Wyoming last August, where he purchased a $14 million ranch, which, reportedly, is gathering dust as well. Currently, the Grammy award-winning rhymer purportedly lays his head at a home on Melrose Avenue in Los Angeles.

Ironically, Kanye's fellow artists, Jay-Z and Beyoncé, recently purchased a $200 million home in Malibu, Calif., designed by architect Tadao Ando as well.

As for Kanye's Malibu home, it looks like he has a money pit on his hands.

Watch TMZ's Report on Kanye West's Gutted Malibu Home Below

Watch My Next Guest With David Letterman: Inside Kanye West's California Home Below

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