The billionaire TV mogul dropped $100 million on an 11,000-square-foot estate in Malibu ... and the place is palatial.

Here's what $100 mil buys in Malibu's exclusive Paradise Cove enclave ... a four-bedroom house with two guest houses and all the bells and whistles, including a home theater, tennis court, gym and yoga studio ... all on a breathtaking, expansive lot.

Byron's new digs sit on a bluff overlooking the Pacific, so the home has sweeping ocean views. The primary suite has its own fireplace, bathroom, custom walk-in closets and private terrace.

There's a winding path down to the beach ... and Byron can hop in a golf cart if he doesn't feel like walking to the coastline. He basically bought his own Malibu resort.

Byron's adding to an already impressive real estate portfolio ... we're told it's now worth $500 million ... he has properties in Aspen, Beverly Hills, Maui and New York.

And, get this ... it's the most money an African American has ever spent on a home in the United States, with Byron toppling the prior record -- $88 million Beyoncé and Jay-Z spent on their Bel-Air mansion.

Byron bought the place from the family who co-founded Public Storage, and his next-door neighbor is WhatsApp cofounder Jan Koum.