14 DAY TRIAL // Mark Zuckerberg’s fortune keeps growing and so is his real estate collection. Following his San Francisco purchase, the Facebook CEO is now planting a flag in Hawaii.
Pacific Business News indicates that Zuckerberg spent $66 million (€52.4 million) on Kahuaina Plantation, the Kauai island, in Hawaii. The estate seems to be the last large beachfront area on the island.
“Kahu`aina Plantation is a vast and pristine oceanfront property that offers the rare opportunity to create a stewardship to last for generations. Set atop the dramatic cliffs and serene shorelines of Kaua`i, Kahu`aina Plantation embodies everything alluring about the island – soaring coastal and sustainable land, gentle waves, and sandy beaches,” reads the island’s brochure.
The property already has all the necessary permits and could host a wide range of development plans. There are some 2,500 feet of white sand beach, as well as about 27 acres of land to grow organic crops of ginger, turmeric or papaya.
Zuckerberg could end up building up an entire resort there. There are some 80 homesites with approved roads, so the constructions on the island could last a long time.
Wealthy, but not flashy
According to Forbes’ latest list, Zuckerberg is the tech exec with the third net worth, estimated at $34 billion (€26.7 billion). This means that the $66 million (€52.4 million) dropped on the property is pocket change for the Facebook exec, even though he’s not really known for spending a lot for himself.
He owns a couple of medium-priced cars and nothing that could register as “flashy” despite his wealth. The largest private investment seems to be the house he bought with his wife, Priscilla, for $10 million (€7.9 million) and which he’s still working on bringing up to date, spending at least another $10 million on renovations, constructions and so on.
Other than that, they’ve donated about $970 million (€770 million) in 2013, which earned them the name of the most generous American philanthropists last year. An additional $120 million (€95.24 million) was directed to schools back in May.
The law firm that handled the sale refused to comment to questions regarding the purchase. The source that provided the information to Pacific Business News, however, insists that Zuckerberg purchased the property.
There were some previous reports indicating that Zuckerberg had also purchased some more real estate in Hawaii, namely a few units in a 23-story condominium that’s ultra luxurious and that cost a few million dollars each. The property is still under construction, however.