According to the Los Angeles Times, musician Flea (Michael Balzary) recently sold his hilltop home in Malibu for $20,000,000 in an all cash transaction. The buyer is said to be Alec Litowitz, CEO of hedge fund Magnetar Capital of Evanston, Illinois.

The property contains 2.1 acres of land with a 2,700 primary 4BR/4BA home and two guest homes. As the property was listed off-market, it is unknown if the property was expanded since 2006 when Flea first purchased the home.

It was also listed for sale for $13,676,000 in 2014. Flea recently purchased another home for $7,5mm in Malibu hence this sale appears to be a bit of downsizing for the bassist for the Red Hot Chili Peppers.