Mark Zuckerberg acquires more land in Hawaii for $53 million

Last updated on May 10, 2021, 12:53 pm
Mark Zuckerberg acquires more land in Hawaii for $53 million

Facebook boss Mark Zuckerberg and his wife Priscilla Chan recently acquired 600 acres of land on the North Shore of Hawaii's Kauai island. This deal brings the couple's total landholdings on Kauai island to over 1,300 acres. Although the couple will reportedly lease parts of the property to a cattle ranch, this acquisition fuels speculation regarding the billionaire's other plans for his property.

Deal details

Property was purchased in March from a local conservationist

Although the purchase was closed on March 19, it was first reported by the Pacific Business Journal late in April. The couple reportedly purchased three parcels of land from Waioli Corporation, a non-profit organization established by a local family whose roots hark back to the Hawaiian kingdom days. The couple will reportedly continue to work with this organization to conserve the land called Lepeuli.

Opinions

Billionaire couple will continue leasing the property to Paradise Ranch

"Mark and Priscilla will act as responsible stewards of Lepeuli today and in the future," Waioli Corporation's President Sam Pratt told SFGate on April 30. The couple parted with $53 million to acquire the property, a part of which is near a public beach called Larsen's Beach. The billionaires said they intend to continue leasing a portion of the land to Paradise Ranch.

Upset locals

Zuckerberg's relations with Hawaiian neighbors haven't been cordial

Chan and Zuckerberg began acquiring land in Kauai in 2014 when they blew $100 million for two properties that totaled 750 acres. However, in 2016 Zuckerberg built a six-foot wall around his property to "reduce highway and road noise," angering neighbors. In 2017, he sued locals who laid claims to land in his compound, reportedly to ensure partial owners get paid for their share.

Neocolonialism

Older rumors suggested that Zuckerberg was building a doomsday bunker

Interestingly, Zuckerberg later dropped the suit. The disputed land was auctioned and three of the four pieces were reportedly sold to a bidder backed by the billionaire. Hawaiians have described his actions as "neocolonialism". Furthermore, Zuckerberg isn't the only Silicon Valley mogul to acquire remote lands preparing for God-knows-what. A 2016 rumor suggested he was building a doomsday bunker on his Palo Alto estate!

Food for thought

Since 2015, tycoons have been investing in post-apocalyptic preparation

In 2017, The New Yorker reported that some of America's wealthiest are bracing for the crack-up of civilization and are preemptively investing in doomsday bunkers, guns, motorcycles, ammunition, and rations. After undergoing laser eye surgery in 2015, Reddit CEO Steve Huffman said that the procedure wasn't for convenience or aesthetics, but for when the world ends and it's a huge pain to get glasses!

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