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Zuckerberg Sweeps Up $17 Million Former Plantation In Hawaii

The land includes a reservoir which was the site of a deadly flood in 2006.

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’Tis the season of gift giving and spending and for billionaires, the rewards reaped are of course always higher.

Kevin Dietsch/Getty Images
Kevin Dietsch/Getty Images

Buying property is certainly one way to get into the holiday spirit, and what better place than the tropical paradise that is Hawaii?

Just last month, Amazon founder Jeff Bezos purchased a massive Hawaiian compound boasting nearly 15 acres of oceanfront land for an estimated $78 million.

His purchase put him among the ranks of billionaire Larry Ellison, who owns about 98% of the island of Lanai and Meta (formerly Facebook) CEO Mark Zuckerberg, who at the time owned about 1,300 acres on the island of Kauai.

Related: Bezos Purchases Massive Hawaiian Compound for Estimated $78 Million

But now it looks like Zuckerberg is stepping his game up in the billionaire takeover of Hawaii.

Per reports, the tech wizard purchased 110 more acres on Kauai for an estimated $17 million through his holding company, Kaloko LLC.

The land, made primarily for farming, is a former sugar plantation that contains a reservoir which was the site of a deadly flood in March 2006 that left seven people dead after nearly 400 million gallons of water were released from the site.

The dam is still considered to be high-risk by the state of Hawaii.

Zuckerberg’s portfolio on the island consists of “a contiguous estate on agricultural and conservation land that includes farm operations and a residence referred to as Ko‘olau Ranch,” per local news sources.

Related: Former employees sue Mark Zuckerberg and his wife for harassment and discrimination

His prior purchases include his first 700 acres for $100 million in 2014 and the next 600 for $53 million this past April.

“Mark and Priscilla continue to make their home at Ko‘olau Ranch,” said Ben LaBolt, a spokesman for Zuckerberg and his partner, Priscilla Chan.

Zuckerberg’s net worth was an estimated $124 billion as of Tuesday afternoon.

Emily Rella

Written By

Entrepreneur Staff

Emily Rella is a news writer at Entrepreneur.com. Previously, she was an editor at Verizon Media, covering entertainment, pop culture, lifestyle, entrepreneuership and business. She is a 2015 graduate of Boston College and a Ridgefield, CT native.