Will Smith and Wife Jada Pinkett-Smith WIll Not Sell their $42M Home

Will and Jada Smith denied allegations that they will be putting up their $42 million home in the market, according to NY Daily News. Their home is located in the mountains about Malibu.

The couple issued the denial after Realestalker.com reported last week that they will be putting up their epic custom-built estate in a hush-hush listing for a whopping $42 million.Their publicist, Karynne Tencer told the Daily News that the news is false and their home is not on the market.

The Smith home took four years to build and it includes a screening room, a professional working studio, a retractable skylight in the double-height living room and views of the couple's private and man-made lakes.

In 2011, the property was featured in the Architectural Digest where Will Smith said that the house's circular floor plan was designed to "create an infinite cycle that represented what Jada and I hoped for our love."

Rumors about their home being on sale came out after the couple decided to sell their three-bedroom vacation property in Hawaii to a Russian billionaire Dmitry Ryboloviev at another whopping amount of $20 million. They also recently sold their privately funded New Village Leadership Academy in Calabasas.

The academy was founded in 2008 after home-schooling their kids Jaden, 15 and Willow, 12 and poured millions into its coffers while deflecting criticism that it used Scientology in its curriculum. This shakeup thus renewed speculations about the couple's married life.

The couple met in 1990 when Jada auditioned to be her future husband's girlfriend on TV's "The Fresh Prince of Bel Air." It was common knowledge that she didn't get the role, but the couple became friends and eventually married on New Year's Eve 1997.