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Zuckerberg forks out more than $100 million for properties
Billionaire Mark Zuckerberg has splurged on two properties in Hawaii - thought to be worth a combined value of more than $100 million.
The Facebook founder has spent more than $100 million on what is thought to be for a private sanctuary for his family on the Hawaiian island of Kauai, according to Forbes.
Sources confirmed to Forbes that Zuckerberg recently made two land purchases on the island – the first, a secluded 393-acre piece of land with its own white sand beach.
According to property records, last month a company named Pila’a 400 LLC paid $49.8 million for an 89.2 per cent stake in the property.
The second plot of land is a sugarcane plantation next door that has been on and off the market for a few years.
The plantation, known as Kahu’aina, reportedly features an organic farm and 762 metres of oceanfront.
According to local paper Pacific Business News, the plantation was put on the market in August for $70 million.
The entire property, which has approval for the construction of 80 houses, is thought to have sold for $66 million.
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Altogether the properties have enough space for 85 homes, but it is thought Zuckerberg will build just one house and use the rest of the land as a buffer zone for privacy.
Zuckerberg will however have a neighbour to contend with - an American oil executive from Denver who purchased the remaining 10.8 per cent interest in the Pila’a Beach property.
According to Forbes, Zuckerberg was unsuccessful in his bid to buy Stewart out.
This article originally appeared on Yahoo7 Finance
