His Land Purchase History
Mark Zuckerberg’s foray into Hawaiian land acquisitions began in 2014, when he purchased a 700-acre property on the north shore of the island. The purchase was made through a company named Kalo Hawaii LLC, though the exact amount paid by Zuckerberg is unknown. From there, he went on to buy an additional $100 million worth of real estate on Kauai, including six parcels of land and hundreds of acres of beachfront properties. In total, he now owns an estimated 1,600 acres of land on the island.
The Purpose of Zuckerberg’s Land Holdings
Clearly, Mark Zuckerberg has a lot of money to spend, so why does he choose to invest in Hawaiian land? One explanation is that he is passionate about protecting the environment and preserving the island’s natural beauty. That’s why, in 2016, he announced that his land purchases were part of an effort to conserve the Hawaiian landscape by forming a nature reserve. According to Zuckerberg, he ultimately hopes to turn the land into a “a garden of 500 acres to help create a more open and connected world.”
Environmental and Cultural Impact
While Zuckerberg’s effort to preserve the Kauai landscape is certainly admirable, some locals question whether his acquisitions are really in the best interests of the people living on the island. After all, many Hawaiians rely on the land for their livelihood, and some fear that Zuckerberg’s buying-spree could have long-term implications for the ability of native Hawaiians to farm, work, and live on the land.
Further, the conservation of the land is no doubt important, but it’s also important to consider the impact on local culture. Some critics worry that Zuckerberg’s acquisitions could lead to Hawaiian land being privatized and taken away from native Hawaiians. Although the entrepreneur has promised to be mindful of cultural sensitivity, it remains to be seen how his presence on the island will affect the locals.
The Neighbors’ Reaction
When news of Zuckerberg’s Kauai land purchases became public, some of his new neighbors took issue with what was seen as an overt display of wealth by the tech mogul. In an effort to appease the residents of the island, Zuckerberg agreed to donate $1.5 million to various Hawaiian charities and organizations. Still, this did little to quell the mounting controversy as some locals continued to express their anger at what they perceived to be an unfair show of financial power.
The Outcome of Zuckerberg’s Investment
Despite any initial misgivings, Zuckerberg’s Hawaiian land acquisitions seem to have been a profitable investment. Since buying the 700-acre property in 2014, the value of his land has skyrocketed, making his initial purchase an incredibly smart business move. And while it remains unclear exactly how Mark Zuckerberg plans to use the land, there’s no doubt that he has enjoyed a healthy return on his investment.
More Land Acquisition Attempts
Mark Zuckerberg shows no signs of slowing down when it comes to his Hawaiian land acquisitions. In 2019, he attempted to purchase a 463-acre plot of land in Kilauea, though the purchase was ultimately rejected. Undeterred, the Facebook founder is still rumored to be contemplating other purchases in the area, with speculation that the total amount of land he owns may grow to more than 2,000 acres in the near future.
Related Real Estate Deals
Zuckerberg isn’t the only tech titan to have an interest in Hawaiian real estate. Fellow tech industry figureheads Larry Ellison and Steve Jobs have also made significant investments in the area, with Ellison owning an estimated 98 percent of Lana’i and Jobs having spent millions establishing a 5,200 acres plot in Kona which he dubbed ‘Kahana.’
Other Tech Titans’ Land Deals
In addition to Ellison and Jobs, several other tech figures have invested heavily in Hawaiian real estate. Microsoft co-founder Paul Allen owns a 14-acre plot of land in Ka’a’awa, and Amazon CEO Jeff Bezos recently purchased a series of parcels in Upcountry Maui, totaling over 500 acres. In all, it appears that the Hawaiian islands are becoming a popular destination for tech billionaires seeking to make sizable land investments.
