Madonna sells Beverly Hills home for $20 million

(UPI) -- Madonna will have another $20 million to put into her Hamptons "dream home," because the 55-year-old Material Girl has offloaded her 1.25-acre estate on the other side of the country.

According to TMZ, Madonna bought the 17,000-square-foot Beverly Hills property for $12 million while she was still married to Guy Ritchie in 2003.

Sources told the gossip site that a "Wall Street big shot" purchased the private estate, which includes a 500-foot driveway, nine bedrooms, a two-story dining room, pool, movie theater and tennis court.

There's also an art studio, bar and gym.

According to the Los Angeles Times, Madonna first listed the "tastefully decorated" property for $28 million last year. It hit the Multiple Listing Service for $22.5 earlier this year.