Facebook’s Mark Zuckerberg shells out $100m for Hawaii holiday sanctuary
Mark Zuckerberg has splashed out over $100m on two pieces of land on Hawaii's stunning Kauai North Shore, according to Forbes. The properties are reported to total 700 acres.
The first purchase was the Pila'a beach, which consists of 383 acres of dazzling white sand. The private beach was owned by Pfleunger properties, a company belonging to Jim Pfleuger, a retired Honda dealer.
Records show that a company called Pila'a International LLC paid $49.8m for an 89.2 per cent stake in the property. The beach is made up of five separate parcels each of which can be developed into private homes.
The second acquisition is the Kahu'aina plantation, a 357-acre former sugarcane plantation. The 30-year-old Facebook founder bought the property from California-based Falko partners, which belongs to Hawaii landowner Larry Bowman.
The property features 2,500 feet of oceanfront as well as a working organic farm. It has been on and off the market for the past few months. Zuckerberg paid $66m for the property, according to Pacific Business News.
Together the properties have enough space for 85 homes, but it is rumoured that Zuckerberg intends to build one house and use the rest of the land as a buffer for privacy.
However, Zuckerberg won't have the area all to himself. He will have a single neighbour, Gary Stewart, executive of oil and gas company Melange Internation.