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

by Burke Speaker | October 11, 2013 8:57 am

Facebook (FB[1]) 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:[2]

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[3]) Marissa Mayer and Google’s (GOOG[4]) Larry Page live there, as did the late Apple (AAPL[5]) 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.

Endnotes:
  1. FB: http://studio-5.financialcontent.com/investplace/quote?Symbol=FB
  2. From the Mercury News:: http://www.mercurynews.com/business/ci_24285169/zuckerberg-buys-four-houses-near-his-palo-alto
  3. YHOO: http://studio-5.financialcontent.com/investplace/quote?Symbol=YHOO
  4. GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
  5. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL

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