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Mark Zuckerberg Reportedly Buys Nearby Homes For Privacy Purposes

October 14, 2013

redOrbit Staff & Wire Reports – Your Universe Online

Some Facebook users may find the social media website’s commitment to privacy inadequate, but the same cannot be said for its CEO, who reportedly purchased four houses adjacent to his Palo Alto home to avoid prying eyes.

According to CNET’s Chris Matyszczyk, the strange-but-true tale began when Mark Zuckerberg heard rumblings that developers were attempting to buy one of his neighbor’s houses and then start promoting it as “The House Next Door to Mark Zuckerberg.”

So he bought not just that house, but three others – at a total cost of $30 million.

“The buying spree began in December, several months after Facebook’s flotation elevated Zuckerberg into the ranks of America’s super-rich, and culminated this week with the sale of a property immediately next to the home he shares with his wife, Priscilla Chan,” said Juliette Garside of The Guardian.

ABC News reported Friday that the home purchased last December was the one directly behind Zuckerberg’s own. Public reports show that it is a 3,200-plus square foot home on 0.4 acres of property, and it was purchased on Christmas Eve 2012 for the sum of $4.8 million.

A second, 2,600 square foot home cost Zuckerberg over $14 million, they added.

“In an effort to keep the purchases under the radar, the party named on the deeds is not Zuckerberg himself, but companies affiliated to Iconiq Capital, a wealth management firm that represents the Facebook chief executive,” Garside explained.

“Rather than being knocked down to extend the digital entrepreneur’s own estate, the homes are apparently being leased back to the families that live there – with the interested parties required to sign non-disclosure agreements,” she added.

Zuckerberg purchased his own home in March 2011 for the sum of $7 million, according to Bloomberg writers Dan Levy and Brian Womack. In an interview with Levy and Womack, local real estate agent Steve TenBroeck said that the Facebook chief’s house is modest in comparison to his wealth and is not located in Palo Alto’s best neighborhood.

“The five-bedroom, five-and-a-half-bath Palo Alto house was built in 1903 on a 9,011-square-foot (837-square-meter) lot,” the Bloomberg reporters added. “The two-floor, white-wood-sided home is ensconced behind a gated drive and a wall of groomed shrubbery, about three miles (4.8 kilometers) from Stanford University and three miles from Facebook’s headquarters.”


Source: redOrbit Staff & Wire Reports - Your Universe Online



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