Mark Zuckerberg did it again: how many acres did he buy and how much did he pay for his new property

Facebook CEO Mark Zuckerberg

The creator of Facebook, Mark Zuckerberg, once again expanded the extension of his properties, worth millions of dollars, in Hawaii.

Tech billionaire and CEO of Facebook parent company Meta bought an additional 44 acres of land on the island of Kauai, reported the Honolulu Star-Advertiser. With this latest acquisition, Zuckerberg’s farm, which he dubbed Ko’olau Ranch, has grown to nearly 607 hectares on Kauai’s north shore, according to Business Insider.

The Star-Advertiser indicated thate “The purchase cost Zuckerberg $ 17 million and includes a century-old reservoir whose dam broke in 2006, causing a flood that killed seven people.”

“The reservoir has not been repaired and is considered high risk, but Zuckerberg and his wife, Priscilla Chan, have committed to complying with the legal requirements surrounding the reservoir, his spokesman Ben LaBolt told the Insider.

This is Zuckerberg’s second this year, as he paid $ 53 million in March for nearly 242 hectares of land on Kauai, including a public beach and a ranch with livestock. This acquisition was added to the 303 hectares it bought in 2014.

Mark Zuckerberg adds land in Hawaii
Mark Zuckerberg adds land in Hawaii

“Mark and Priscilla continue to make their home on the Ko’olau Ranch,” LaBolt told Insider, adding that the couple had “worked closely with a number of community partners to operate a working ranch, promote conservation, produce a sustainable agriculture and protecting wildlife and hope to expand their efforts to include this additional property.

However, the couple’s presence on the island has been controversial in the seven years since they moved. Tyler Sonnemaker informed the Insider last month that “many local residents viewed the Zuckerberg land purchases as a new monarchy that did not respect the island’s history.”

Zuckerberg first sparked anger among neighbors in 2016 by building a six-foot wall around his property. with the intention of reducing highway and highway noise. A year later, he filed a lawsuit against families who had property rights to parcels within their property, stating that he wanted “to make sure that the smaller partial owners also get paid their fair share.” But residents called the measure “neocolonialism.”

Thus, Zuckerberg withdrew the lawsuit, stating that he and Chan wanted to “fix this, talk to the community and find a better approach.” The lands were eventually auctioned, and three of the four were sold to a bidder that Zuckerberg said in an op-ed he supported.

Although Zuckerberg, Chan and their two daughters live in Palo Alto, California, “it seems that in the last two years they have spent more time on the island farm.” In March of this year, “the couple donated $ 4.2 million to an employment program for Kauai residents who lost their jobs as a result of the pandemic and recently donated $ 4.85 million in housing grants. accessible ”.

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Mark Zuckerberg did it again: how many acres did he buy and how much did he pay for his new property