Jeffree Star is quietly one of the richest and most-successful celebrities in the world. The YouTube star/makeup tycoon has a net worth of $200 million. He makes $15-20 million per year primarily from Jeffree Star Cosmetics, a drop shipping and white label makeup production behemoth. He makes around $20 million per year and reportedly once turned down a $500 million acquisition offer from L'Oreal.
Following in the footsteps of fellow celebrity entrepreneur Kanye West, at the end of 2020 Jeffree bought a 70-acre property in Wyoming. He reportedly plans to move his company's production facilities to the tax-friendly state in the near future.
Wyoming is one of nine US states where residents do not pay a dime in state income tax. If Jeffree continues to earn $20 million per year, he'll save himself around $2.6 million every year he's out of California. If he decides to accept a $500 million acquisition offer in the future, he'll save $65 million.
California is notoriously suspicious of people who flee to tax-friendly states. Auditors have been known to check grocery bill receipts, dentist visits records, social media posts and more to test whether someone truly changed their residence. If someone still sees their old dentist and veterinarian in California, that's a red flag.
Another big red flag is continuing to own a home in California. It's certainly not against the law to own a home in another state, but if you're spending months living at your California home while calling Wyoming your permanent residence, the California tax man will object. California might even consider you a part-time resident and ask for a pro-rated cut of your income.
So perhaps in preparation for the move to Wyoming, Jeffree Star has listed a stunning Hidden Hills mansion. The asking price?
Incredibly, if he gets asking, that will be $5 million over the $14.5 million Jeffree paid just a year and a half ago.
Take a few minutes and watch this video tour. The house is really something else:
Situated on just under 3 acres, Jeffree's property features 25,000 square-feet of living space, with 8 bedrooms and 13 bathrooms.
There are TWO guest houses, a 3,700 square foot barn and a 4,700 square foot garage that can house more than 10 cars.
Other amenities include:
- Home theater
- Large game room with wet bar
- Two story gym
- Steam and sauna rooms
- Wine tasting room
- Gourmet kitchen
- Large custom offices
The land for the home was purchased in 2007. Within a few years, the former owner, a hedge fund manager, had completed the mansion you see now. That former owner originally listed the house in 2013 for a shade under $18 million. After struggling to find a buyer for several years, the home was rented out for a mind-boggling $75,000 per month. Who has that kind of cash to burn on RENT?
Jeffree bought the property in December 2019 for $14.58 million, around $200k less than the $14.75 million listing price.