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It’s good to be King Bey.  The non-stop singing machine just dropped $45 million to buy a palatial Malibu mansion that belonged to pop diva Cher.  The Italian Renaissance style home has seven bedrooms, nine bathrooms,  fully equipped gym, outdoor tennis court and swimming pool.

Check out pics of Bey’s elegant new abode:

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Cher had put the house for sale back in 2008, but soon took it off the market, as she wasn’t ready to part with it. The mansion went back on sale earlier this year and Bey swooped in for the buy.

The “Bow Down” singer made a splash at the Met Gala this past Monday with an eye-brow raising gown (with matching boots) designed by Givenchy.

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