Madonna has boosted her already impressive bank balance by selling off her Beverly Hills mansion for an $8 million (£5.3 million) profit.

The Material Girl paid $12 million (£8 million) for the huge estate in 2003 while she was married to her second husband, director Guy Ritchie.

She put it on the market for a mammoth £22.5 million (£15 million) in January (13), and despite America's rocky real estate industry, the star's realtor Kurt Rappaport has managed to sell the home to a Wall Street banker for $20 million (£13.3 million).

The property boasts 15 bedrooms, nine bathrooms, a two-storey dining room, a gym, and a 500 foot (152.4 metres) driveway.

The star still owns houses in New York and London.