Zuckerberg takes over $ 17 million former plantation in Hawaii

It is the season of giveaways and spending and for billionaires the rewards are of course always higher.

Kevin Dietsch / Getty Images

Kevin Dietsch / Getty Images

Buying property is definitely a way to get into the vacation spirit, and what better place than the tropical paradise of Hawaii?

Amazon founder Jeff Bezos last month bought a massive Hawaiian resort spanning nearly 15 acres of oceanfront land for an estimated $ 78 million.

His purchase placed him in the ranks of billionaire Larry Ellison, who owns about 98% of the island of Lanai, and Meta (formerly Facebook) CEO Mark Zuckerberg, who at the time owned about 1,300 acres on the island. island of Kauai.

Related: Bezos Buys Huge Hawaiian Compound For Roughly $ 78 Million

But now it looks like Zuckerberg is stepping up his game in Hawaii’s billionaire takeover.

By reports, the technical assistant bought An additional 110 acres on Kauai for an estimated $ 17 million through its holding company, Kaloko LLC.

Land, mainly used for agriculture, is a old Sugar plantation that contains a reservoir that was the site of a fatal flood in March 2006, which left seven people dead after nearly 400 million gallons of water were released from the site.

The dam is still considered high risk by the state of Hawaii.

Zuckerberg’s portfolio on the island consists of “an adjoining estate on agricultural and conservation land that includes farming operations and a residence called Ko’olau Ranch,” according to local news. sources.

Related: Former employees sue Mark Zuckerberg and his wife for harassment and discrimination

Its past purchases include its first 700 acres for $ 100 million in 2014 and the next 600 for $ 53 million last April.

“Mark and Priscilla continue to settle at Ko’olau Ranch,” noted Ben LaBolt, spokesperson for Zuckerberg and his partner, Priscilla Chan.

Zuckerberg’s net worth was a valued $ 124 billion Tuesday afternoon.

About Catherine Wilson

Check Also

Consolidated Financial Statements of Holding Companies-FR Y-9C – InsuranceNewsNet

Dollar amounts in thousands BHCK Rising Holding companies of less than $5 billion in total …