The Hawaiian island of Kauai’s newest landowner is Mark Zuckerberg. The Facebook CEO bought a small fraction of the archipelago’s fourth-largest island, snapping up 700 acres of the island’s 552 square miles. Zuckerberg reportedly spent more than $100 million for his share of the island, which will become his personal retreat.
The Hawaiian island of Kauai’s newest landowner is Mark Zuckerberg. The Facebook $META CEO bought a small fraction of the archipelago’s fourth-largest island, snapping up 700 acres of the island’s 552 square miles. Zuckerberg reportedly spent more than $100 million for his share of the island, which will become his personal retreat.
Private islands are a relatively common place for billionaires and celebrities to park cash, especially if they’re American. There’s even a helpful guide (pdf) for those in the market. Oracle $ORCL, Lanaii, which he bought .
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Surprisingly, it doesn’t cost as much as you might think to buy land surrounded by water. Islands themselves can cost anywhere from a few hundred thousand dollars to $200 million, according to the guide from Private Islands inc. Developing them into something hospitable and keeping them up is what soaks up serious cash.
