Bring out the Ace of Spades because congratulations are in order! JAY-Z and Beyoncé have reportedly become homeowners of the most expensive residential dwelling in the state of California. The news broke today (May 19).

According to TMZ, the power couple paid $200 million for a 30,000-square-foot beachfront property in a prime area of Malibu. The outlet claims to have received the information from trusted real estate insiders. The big buy blows the previous highest-selling home in the state, listed at $177 million, out of the water. JAY-Z and Beyoncé’s alleged history-making house now takes the throne as the second most expensive piece of property in the United States, with TMZ citing a $238 million apartment in New York City as the top contender.

As JAY-Z and Beyoncé are known to live a life of privacy, neither Grammy winner has confirmed the news for themselves. However, the thought of the super stars dropping a big bag wouldn’t come as surprising. Last week, CBS News revealed Queen Bey’s “Renaissance World Tour” alone could bring in “more than $2 billion” for the Houston native. The tour, named after her seventh studio album, recently kicked off to rave reviews and will visit over 50 cities worldwide. The first show commenced on May 10 at Sweden’s largest stadium, Friends Arena, and the final date will be Sept. 27 in New Orleans.

As for the pricey pad, JAY-Z and Beyoncé are said to be the newest neighbors on Billionaires’ Row — a sought-after stretch of land overlooking the Pacific Ocean in Paradise Cove. William Bell, a notable art collector, is listed as a previous owner. It reportedly took him nearly 15 years to create the all-concrete mansion with Japanese master architect Tadao Ando. Fans of the “‘03 Bonnie & Clyde” are supportive of the news. “That Dubai show was the down payment. I love this for them. Black power couple!” one person tweeted.