Mark Zuckerberg buys up all the properties around his house so he can live in his own neighbourhood
Published on Mar 21, 2022 at 2:04 PM (UTC+4)
by Alessandro Renesis
Last updated on Mar 29, 2023 at 12:18 PM (UTC+4)
Edited by
Kate Bain
Mega-billionaire Mark Zuckerberg has bought up all the property around his house so he can live in his own bubble.
The Facebook founder’s net worth plunged when Meta stocks crashed (-26 percent in a day) more than a month ago but he’s still worth about $69 billion.
That’s more than enough to buy anything he wants, including this 5-home compound that cost him a small fortune.
Zuckerberg originally purchased a single home in Palo Alto, California for $7 million but then decided to buy all four homes around him and turn them into a custom designed project.
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He bought the second property in 2012 for $4.7 million, the third one in September 2013 for $10 million, and then bought the other two a month later for $26 million in total.
He did it because he wanted to live in his own neighbourhood, and didn’t want anyone flipping homes near him using the ‘my neighbour is a celebrity’ factor.
Zuckerberg wanted to demolish all four homes to build one larger structure but since he could only get the relevant permits for two, he came up with another idea.
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He started by renovating two of the homes, before bulldozing the other two to replace them with a one-story home, which is something you can do without the council’s approval in Santa Clara county.
As things stand, this 1.83-acre compound consists of four individual homes connected together but Zuckerberg apparently has a plan to acquire another property in the area and turn it into a 3,554 square foot home with a 789 square foot garage.
And the price of the Mark Zuckerberg house?
Zuckerberg paid at least $50 million in total for the project – that’s including renovations.
And even when you factor in the volatility of California’s housing market, it’s hard to imagine the property being worth any less than $100 million now.
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