Mark Zuckerberg House-Buying Spree Prevents Too-Close Onlookers

Friday, 11 Oct 2013 06:24 PM

By Ken Mandel

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Mark Zuckerberg likes his house and his privacy so much that the Facebook founder and CEO spent $30 million buying up four homes near his current Palo Alto residence.

The San Jose Mercury News reported that Zuckerberg learned a developer was seeking to purchase a nearby property and market it as being "next door to Mark Zuckerberg," according to a source. And that didn't earn a thumbs up from the mogul.

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Zuckerberg, 29, bought the houses but is leasing them back to the current residents. In the Crescent Park neighborhood, Zillow.com lists homes for an average of $3 million. He paid various prices, including a reported $14 million for one of the properties, said the Mercury News.

Zuckerberg is among several technology company executives who live in Palo Alto, including Yahoo CEO Marissa Mayer and Google co-founder Larry Page, who created ahis own real estate buzz a few years ago when he bought four adjacent properties to create a 6,000-square-foot estate.

After living in rented accommodations for years, Zuckerberg reportedly paid $7 million in 2011 for the 5,000-square-foot home in the Crescent Park neighborhood where he lives with his doctor wife, Priscilla Chan, and he also owns a house in San Francisco. His personal fortune is estimated at $19 billion.

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Internet users had some fun with Zuckerberg's buying spree.

"Ironic that he's so into his privacy while ensuring that no one else has any," commented one.

Facebook announced Friday it was removing a protection that allowed users to hide themselves from the site's search function, although they can still dictate who sees what on their profile.

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