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AP Photo/Jim Mone
Zuckerberg has a lot of skinny dipping to do.
EVERYMAN IS AN ISLAND

Mark Zuckerberg is the latest tech giant to buy (part of) an island

By Sonali Kohli

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.

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 CEO Larry Ellison owns 98% of another Hawaiian island, Lanaii, which he bought for $300 million and is trying to transform it into a high-end, environmentally sustainable resort. Microsoft co-founder Paul Allen owned 292-acre Allan Island off the US’s Washington state coast until Dec. 2013, when he sold it for $8 million.

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.