Mark Zuckerberg spent about $59 million to secretly buy two adjacent private waterfront estates in Lake Tahoe last winter
- The Wall Street Journal reported Thursday that Facebook CEO Mark Zuckerberg spent about $59 million on two adjacent properties in Lake Tahoe, a popular vacation destination for Northern Californians.
- According to the report, Zuckerberg purchased the properties through a limited-liability company and high-end wealth manager to keep the deals private. Real estate agents signed non-disclosure agreements and removed photos of the properties from their websites, per the Wall Street Journal report.
- Zuckerberg has received criticism for past real estate purchases in Hawaii and Palo Alto that included purchasing surrounding lots to ensure his privacy.
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Mark Zuckerberg's future vacations will be private if his recent real estate purchases are any indication.
The Wall Street Journal reported Thursday that Facebook CEO Mark Zuckerberg spent about $59 million on two adjacent properties in Lake Tahoe, a popular vacation destination for Northern Californians. The estates are on Lake Tahoe's west shore outside Tahoe City, an area known for "old, understated money-less flash, more hunker in the woods," according to the Wall Street Journal report.
The report said Zuckerberg purchased the properties through a limited-liability company called Golden Range and with his high-end wealth manager Iconiq Capital to keep the deals private. Real estate agents signed non-disclosure agreements and removed photos of the properties from their websites, per the Wall Street Journal report.
Between the two properties, Zuckerberg now owns 600 feet of private waterfront on Lake Tahoe. The area also counts the family of late Hewlett-Packard founder Bill Hewlett and the family of the late publishing icon Charles McClatchy as neighbors, according to the Wall Street Journal.
Zuckerberg has received criticism for past real estate purchases in Hawaii, Palo Alto, and San Francisco that included acquiring additional neighboring properties to ensure his privacy. Critics point out that, as Zuckerberg's company is in the spotlight for playing fast and loose with users' privacy, he has always valued his own right to privacy in the physical world. According to Facebook documentation, the company spent $20 million on a security detail for its founder.
It is not clear whether Zuckerberg will keep the housing on the two properties or will opt to tear it down and start fresh. The Wall Street Journal reported that he is in talks to acquire a third property across the street, ensuring his future quiet trips to the woods will remain undisturbed.