Mark Zuckerberg Invests $53 Million For 600 Acres In Hawaii

Mark Zuckerberg is best known for founding Facebook, but he may soon be better known for his substantial stakes in Hawaiian property, if he keeps purchasing land at this rate. He’s making the headlines for purchasing yet another 600 acres in the tropical paradise, in addition to the exorbitant amount of land he has already invested in. These 600 acres on the island of Kauai have been purchased for a jaw dropping amount of money totaling $53 million, and brings Zuckerberg’s Kauai land ownership to an astounding 1300 total acres. While he and his wife, Priscilla Chan, may be proud of their new land acquisition, The New York Post reveals that many locals of the Aloha State are up in arms about this massive land purchase, comparing it go ‘colonization’ of the land.

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The raw, rainforest land purchased by Zuckerberg is full of possibility. Environmental preservation of this tropical area remains of the utmost importance.

The huge acreage has been purchased from a local nonprofit organization called Waioli Corp., and  Pacific Business News reports that this region is known for it’s lush greenery and is home to exotic plants and wildlife. The region is referred to by locals as the “Garden Island” and is considered to be very precious land.

This huge Hawaiian land purchase is not Zuckerberg’s first. He began snatching up this precious property in 2014 when he bought the 357 acre Kahuaina Plantation, and it wasn’t long before the billionaire tech mogul was ruffling local feathers in a very big way.

There were a series of native Hawaiians that owned tiny pieces of land around his property, and shortly over his initial purchase of Hawaiian land, he began approaching the locals, encouraging them to sell their small property so that he could have greater privacy on his new land.

It is unclear what Zuckerberg has done with the first massive property he purchased, but the New York Post indicates; ” It is set far back from publicly accessible areas, with a controversial walled perimeter. According to building permits that total $83 million, one application called for a 57,059-square-foot home with eight bedrooms, nine full baths, and 16 half baths.”

As far as the transfer of ownership in this most recent deal worth $53 million, SFGate reports that there have been a number of promises made regarding the preservation of the land.

The Waioli president Sam Pratt said the nonprofit organization that held the land has thought long and hard about the decision to sell the land to Zueckerberg. Ultimately, they declare that they decided to sell the land because this decision “provides Waioli with the financial ability to be able to continue our critical conservation and historical work.”

He went on to say: “We know that this land will remain in their trusted hands and that Mark and Priscilla will act as responsible stewards of Lepeuli today and in the future.”

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Sources: The New York Post, SFGate, Pacific Business News

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