Mark Zuckerberg Buys 700 Acres In Hawaii For More Than $100 Million
The Telegraph
Nick Allen, The Telegraph
Oct. 14, 2014, 7:03 AM
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northshore1Flickr/Jeremy Hall
Mark Zuckerberg has reportedly paid more than $100 million for a swathe of land in Hawaii where he will create a private getaway befitting one of the world's richest men.
The Facebook chief executive bought part of Kauai, the fourth largest of the Hawaiian islands, Forbes magazine reported .
His 700 acres on the north shore will include a pristine white sand beach, a former sugarcane plantation, and an organic farm.
Under Hawaiian law the the beach will have to remain open to he public as the state has no private stretches of sand.
Zuckerberg, 30, who is worth around $33 billion, is the second Silicon Valley billionaire to buy up part of Hawaii.
Last year Oracle chairman Larry Ellison purchased the whole of Lanai, Hawaii's sixth largest island, for up to $600 million .
Speculation that Zuckerberg could be interested in property on Kauai mounted last year after he was spotted on the island, with his wife Priscilla Chan, eating at Bubba Burgers.
northshore2Flickr/Donna SOne of many North Shore beaches. Zuckerberg's will have to remain public as per Hawaii law.
It would be his latest leap up the property ladder. In 2010 Zuckerberg was renting a modest property near Facebook's headquarters while he put in 16 hour days at the office.
The following year he upgraded to a $7 million, 5,000 sq ft residence in Palo Alto, California which was still modest in comparison to the homes of other technology billionaires.
He later spent $30 million buying up four homes adjoining his in Palo Alto to fend off a developer who was going to purchase them, and market them as being "next door to Mark Zuckerberg".
When asked about his latest reported acquisition a Facebook spokesman told Forbes : "We don't comment on rumours and speculation, but thank you for reaching out!"
Read more: http://www.businessinsider.com/mark-zuckerberg-buys-700-acres-in-hawaii-for-more-than-100-million-2014-10#ixzz3G8c59PLk
Tuesday, 14 October 2014
Mark Zuckerberg Buys 700 Acres In Hawaii For More Than $100 Million
The Telegraph
Nick Allen, The Telegraph
Oct. 14, 2014, 7:03 AM
16,807
20
facebook
linkedin
twitter
google+
northshore1Flickr/Jeremy Hall
Mark Zuckerberg has reportedly paid more than $100 million for a swathe of land in Hawaii where he will create a private getaway befitting one of the world's richest men.
The Facebook chief executive bought part of Kauai, the fourth largest of the Hawaiian islands, Forbes magazine reported .
His 700 acres on the north shore will include a pristine white sand beach, a former sugarcane plantation, and an organic farm.
Under Hawaiian law the the beach will have to remain open to he public as the state has no private stretches of sand.
Zuckerberg, 30, who is worth around $33 billion, is the second Silicon Valley billionaire to buy up part of Hawaii.
Last year Oracle chairman Larry Ellison purchased the whole of Lanai, Hawaii's sixth largest island, for up to $600 million .
Speculation that Zuckerberg could be interested in property on Kauai mounted last year after he was spotted on the island, with his wife Priscilla Chan, eating at Bubba Burgers.
northshore2Flickr/Donna SOne of many North Shore beaches. Zuckerberg's will have to remain public as per Hawaii law.
It would be his latest leap up the property ladder. In 2010 Zuckerberg was renting a modest property near Facebook's headquarters while he put in 16 hour days at the office.
The following year he upgraded to a $7 million, 5,000 sq ft residence in Palo Alto, California which was still modest in comparison to the homes of other technology billionaires.
He later spent $30 million buying up four homes adjoining his in Palo Alto to fend off a developer who was going to purchase them, and market them as being "next door to Mark Zuckerberg".
When asked about his latest reported acquisition a Facebook spokesman told Forbes : "We don't comment on rumours and speculation, but thank you for reaching out!"
Read more: http://www.businessinsider.com/mark-zuckerberg-buys-700-acres-in-hawaii-for-more-than-100-million-2014-10#ixzz3G8c59PLk
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