Mark Zuckerberg Buys Neighbors' Houses for $30 Million
Facebook CEO Mark Zuckerberg speaks at the Newseum September 18, 2013 in Washington, DC. (Photo by Win McNamee/Getty Images)
Updated at 10:22 AM EST on Friday, Oct 11, 2013
Facebook chief and founder Mark Zuckerberg bought four homes adjacent to his own tony Palo Alto house to prevent a developer from building a McMansion capitalizing on being next to the creator of Facebook.
Zuckerberg paid more than $30 million for the four properties next door and behind his home, and is now leasing them back to the owners, according to the San Jose Mercury News.
The 29-year-old billionaire reportedly bought the houses to prevent a developer from building a McMansion and marketing it as "being next door to Mark Zuckerberg," according to an unnamed source.
According to public records, the home behind Zuckerberg's was sold last December to a legal entity affiliated with Iconiq Capital, a San Francisco company that handles Zuckerberg's finances. Last month, two more properties behind his home and one next door were also bought by associated entities of Iconiq. One of the properties sold for $14 million.
Although Facebook and Iconiq declined to comment on the matter, it's not hard to believe that a person worth $19 billion could spend $30 million to keep his home from being turned into a center for looky-loos.