Facebook’s Zuckerberg Spends $30 Million Buying 4 Homes for Privacy

Bought the homes as a buffer to protect his primary residence from snoopers

   

Facebook (FB) founder Mark Zuckerberg has discovered one way to protect his own privacy — buying up four adjacent properties surrounding his Palo Alto home at a cost of $30 million.

He bought the homes, then released them to the tenants, to ensure that the homes were not sold to those looking to invade his privacy. He bought his 5,000-square-foot abode for $7 million in Crescent Park, one of the area’s top neighborhoods.

From the Mercury News:

The 29-year-old multibillionaire acted after he learned of a developer’s plan to buy one of the properties next door to the Facebook co-founder, said the source. “The developer was going to build a huge house and market the property as being next door to Mark Zuckerberg.”

Zuckerberg is one of several prominent tech CEOs who own homes on Palo Alto’s tree-lined streets.Yahoo’s (YHOO) Marissa Mayer and Google’s (GOOG) Larry Page live there, as did the late Apple (AAPL) chief Steve Jobs. Page created a modest stir a few years ago when he bought four adjoining properties in a fashionable, older neighborhood where he’s building a 6,000-square-foot abode.

He began buying up the homes last December and has slowly amassed the buffer — but sources tell the paper he has no plans to increase his property space or create a compound.


Article printed from InvestorPlace Media, http://investorplace.com/2013/10/facebook-zuckerberg-buys-4-homes-in-neighborhoo/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.