A Singapore press holdings portal

Luxury, World

Saturday, Oct 18, 2014

Luxury, World

Zuckerberg pays $130m for slice of Hawaii

The Straits Times | Saturday, Oct 18, 2014

So Facebook CEO Mark Zuckerberg may not have much problems spending a mere US$100 million (S$130 million) to buy property in Hawaii.

By property we mean 280ha on the oldest of Hawaii's main islands, Kauai, the Mail Online reported. The area is about the same as 10½ Singapore Zoos.

The purchase includes Pila'a Beach - an isolated 159ha swathe of land with a pristine white sand beach - and the adjacent a 144ha Kahu'aina Plantation.

Forbes magazine reported that the former sugarcane plantation, which has 760m of oceanfront and a working organic farm, has been on and off the market for a few years.

The report said that Mr Zuckerberg, 30, paid around US$66 million for the Kahu'aina Plantation and about US$50 million for Pila'a Beach, according to Pacific Business News.

Forbes quoted sources as saying that the billionaire intends to build just one secluded property.

The famously private entrepreneur will have one neighbour - executive Gary Stewart of oil and gas company Melange International, who bought the remaining 10.8 per cent interest in the Pila'a Beach property for US$6 million.

Sources told Forbes that Mr Zuckerberg tried to buy Mr Stewart out, but he was not interested in the offer.

Facebook's co-founder has long been a fan of Hawaii and has made a number of trips to the islands with his wife Priscilla Chan.


This article was first published on October 16, 2014.
Get The New Paper for more stories.

No comments yet.
Be the first to post comment.