Why Mark Zuckerberg buys up properties that surround his 10 homes
- The billionaire, with an estimated net worth of US$71.5 billion, most recently spent US$59 million on two next-door waterfront homes in Lake Tahoe, in Sierra Nevada
American billionaire Mark Zuckerberg, the CEO of Facebook, the social networking website, has recently expanded his property portfolio and summer holiday options.
Zuckerberg, 34, spent more than US$59 million last winter on two adjacent properties in Lake Tahoe, in the Sierra Nevada, between California and Nevada – an area known for its beaches and ski resorts, according to reports.
The purchase took place privately, through a limited-liability company and a high-end wealth manager, to keep the deal secret, the reports said.
It’s the fourth location in western US where Zuckerberg has bought real estate. He also owns properties in Palo Alto, California; San Francisco; and the Hawaiian island of Kauai.
Collectively, Zuckerberg has bought 10 properties, although he has a knack for also buying surrounding properties to ensure his privacy. He has bought the four homes surrounding his main Palo Alto residence and a stake in a beach next to a plantation he purchased in Kauai.
Zuckerberg is also known for getting embroiled in a bit of real-estate conflict. He was involved in a dispute over the ownership of landlocked parcels of land on the plantation, and neighbours reportedly were not pleased with the effects of Zuckerberg’s year-plus renovation of his San Francisco town house.
Check out Zuckerberg’s real-estate portfolio.
Palo Alto town house
Zuckerberg lives in a 5,000-square-foot (460-square-metre) home in Palo Alto.
