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Friday
Oct112013

Facebook’s Mark Zuckerberg Buys Up Surrounding Homes

Facebook(PALO ALTO, Calif.) -- To create his own mega-compound, Facebook founder and CEO Mark Zuckerberg bought four homes for $30 million, one of which sold for $14 million, near his own $7 million estate in Palo Alto, Calif.

The buying spree may have been sparked when Zuckerberg learned of a developer's plan to buy a property next to him, an unnamed source tells The San Jose Mercury News.

"The developer was going to build a huge house and market the property as being next door to Mark Zuckerberg," the source says, according to the Mercury News.

Zuckerberg can afford to shell out millions for privacy and space near the Facebook headquarters in nearby Menlo Park. The 29-year-old is worth an estimated $19 billion, Forbes says.

He bought the home where he currently lives in 2011. That home has a pool, a "croquet lawn," and is about three miles from Facebook's headquarters. Last year, Zuckerberg married long-time girlfriend and Harvard classmate Priscilla Chan, a doctor.

The Harvard drop-out began his home-buying sideline by first buying the home directly behind his in December, the Mercury News reports. Public records show that the 3,240-sq.-ft. home on 0.4 acres was purchased for $4.8 million on Christmas Eve last year.

"Located in one of the most desirable areas of the Crescent Park neighborhood, this Estate sized property offers the opportunity to move in, remodel, or to build your dream home," the home's listing states.

Last month, Zuckerberg bought three more homes surrounding his existing five-bedroom house, the Mercury News reports. The homes were purchased by an entity associated with Iconiq Capital, a firm that handles Zuckerberg's financial matters. For one 2,600-sq.-ft. home, he paid more than $14 million, the Mercury News reports.

Copyright 2013 ABC News Radio







ABC News Radio