Facebook CEO Mark Zuckerberg has bought the four homes that are adjacent to his 5-bedroom home in Palo Alto, California. Zuckerberg spent over $30 million to buy the four other houses. Zuckerberg is going to lease those existing homes back to the families that live there.
So why did he buy the houses? Zuckerberg reportedly decided to buy the houses once he learned that a developer was going to buy one of the properties next door and market is as being next door to Mark Zuckerberg.
The Facebook CEO is not the only tech billionaire that bought adjacent properties. Google CEO Larry Page bought four adjoining properties in an older neighborhood where he is building a 6,000 square foot home.
Zuckerberg paid $7 million for his 5,000 square foot home at the Palo Alto Crescent Park two years ago. Zuckerberg and his wife reportedly have a net worth of $19 billion. They also own a home in San Francisco. Zuckerberg made the purchase through Iconiq Capital, a San Francisco based financial company that handles Zuckerberg’s asset portfolio. Zuckerberg paid various prices for each house. One of the homes was 2,600 square feet, which costed $14 million.
[Source: Mercury News]