MALIBU, Calif. - Media mogul ByronAllen just became the first African-American to pay $100 million for a home in the United States.

Mr. Allen, a comedian-turned-businessman who now owns and operates 10 cable networks, including the Weather Channel, paid that price for a 10,698-square-foot luxury mansion in the exclusive Paradise Cove section of Malibu, according to the Hollywood Reporter.

The previous record was held by Beyonce and Jay-Z, who bought an $88 million compound in Bel-Air in 2017.

Mr. Allen’s new Mediterranean-style residence, previously owned by Public Storage heiress Tammy Hughes Gustavson, sits on 3.6 acres above the beach and boasts eight bedrooms, 12 baths, a movie theater, a tennis court, a gym and yoga studio.

The home adds to the Mr. Allen’s collection of luxury homes in Beverly Hills, New York and other locations.

Now 61, he is the founding chair and chief executive of ficer Allen Media Group/Entertainment Studios, the largest privately held media company in the United States and valued at more than $4.5 billion.

A Detroit native who grew up in Los Angeles, he got on the road to success as a comedian. Forty-three years ago, at age 18, he was the youngest comedian to appear on the Tonight Show then starring Johnny Carson.

He later was a presenter on “Real People” and starred on “Jammin’” and “Kickin’ It with Byron Allen” for 21 seasons.

When he launched his company 29 years ago, he had to overcome substantial challenges and spent five years suffering poverty and foreclosures before he gained traction.

His company now offers 65 cable shows and employs more than 1,300 people. His news site, “The Grio” is listed as the largest employer of Black journalists.

Mr. Allen overcame a major roadblock to his company’s expansion in 2015 when he filed a racial discrimination lawsuit against two of the largest cable operators, Comcast and Charter, resulting in settlements that led to inclusion of his networks.

Still ambitious, Mr. Allen has plans to spend $10 billion over the next several years to expand his empire.