WhatsApp's co-founder is building a swanky $80mn property

Business

14 Jun 2019

WhatsApp co-founder builds $80mn property in America's richest town

If you become a billionaire overnight, how would you spend that truckload of money?

Well, if you ask Jan Koum, the co-founder of popular messaging app WhatsApp, the answer is building a swanky mansion in the richest town of America.

He has pumped nearly $80 million in building a compound in the leafy town of Atherton in California.

Here's everything about it.

City

Atherton is the city of America's wealthiest

With an average household income of more than $450,000, Atherton has gained the reputation of a town hosting America's richest.

The residents in the area include rich venture capitalists, philanthropists, and Silicon Valley billionaires like Koum.

And, as it seems, the property being built by the WhatsApp co-founder could well be the most expensive one ever constructed in the region.

Details

Koum bought five houses for his fancy compound

Over the last four years, Koum has bought as many as five Atherton houses for $57 million to assemble his fancy compound.

Though there are no images, houses have either been destroyed and replaced with new structures or renovated completely, according to a report in Variety.

Plus, he's also pumped an additional $20 million to set up new structures, including at least two mansions.

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And, there is also two-level detached garage

Along with the two mansions, Koum is also getting a state-of-the-art, two-level detached garage for himself. It spans more than 10,000 square feet and alone dwarfs neighboring properties in Atherton.

Actual value

Full likely to be way more than $80 million

Full likely to be way more than $80 million

The value of Koum's Atherton compound is estimated at nearly $80 million according to listed records.

However, the actual cost of the property, after including the customization and landscaping cost, would go way beyond that.

Notably, Koum also has a separate home, valued at nearly $9 million, some 8 miles away from the humongous compound.

Deal

Koum became a billionaire from WhatsApp's acquisition

Koum, along with co-founder Brian Acton, sold WhatsApp to Facebook for $19 billion in 2014.

He joined the social network's Board of Directors and sold $7.1 billion worth of shares while being at the company.

Then, in 2018, Koum announced his departure from the company allegedly due to disagreements with Mark Zuckerberg over data privacy.

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