Mark Zuckerberg makes privacy a priority – when he buys real estate

The Facebook CEO buys homes through a LLC and a wealth management firm, and requires agents to sign NDAs

TRD NATIONAL /
May.May 04, 2019 03:00 PM

Mark Zuckerberg may be under fire for failing to protect the privacy of Facebook users, but he takes extraordinary measures to protect his own while expanding his personal portfolio of homes (Credit: Getty)

Mark Zuckerberg may be under fire for failing to protect the privacy of Facebook users, but he takes extraordinary measures to protect his own while expanding his personal portfolio of homes.

The 34-year-old CEO of Facebook has tried to hide his property purchases through a limited liability company and a firm that manages investments for wealthy clients, and he also requires real estate agents who work for him to sign non-disclosure agreements, the Wall Street Journal reported.

Most recently, Zuckerberg last winter bought two private estates with 600 feet of waterfront in the Lake Tahoe area through a LLC called Golden Range and Iconiq Capital, a wealth management firm, according to public records. He paid a total of $59 million for the two parcels, which together span nearly 10 acres, and he may buy a third parcel across the street.

Real estate agents who worked with Zuckerberg on the Lake Tahoe purchases signed confidentiality agreements that prohibited them from disclosing him as the buyer and publishing property photos online.

The measures are one part of the Facebook founder’s long track record of trying to protect privacy through assembling surrounding properties and his preference for underwhelming, foliage-wrapped houses.

In Palo Alto, Zuckerberg and his wife Priscilla Chan paid about $7 million for a five-bedroom home in 2011 and subsequently bought four neighboring homes, which they now plan to raze and replace with smaller structures. In Hawaii, where Zuckerberg owns more than 700 waterfront acres on the island of Kauai, he drew criticism for wanting longtime residents to move off two acres of his vast property.

At another home he owns in San Francisco’s Noe Valley, neighbors rallied together to complain about his security detail illegally taking up two parking spots outside his home.

“I’m sure you all agree that it can be cumbersome living next to Zuck,” said the letter, which was circulated among neighbors in the area in 2016, to galvanize neighbors to complain about the permanently parked SUVs.

A spokesperson for Zuckerberg said they’ve since changed security measures. [WSJ] – Mike Seemuth


Related Articles

arrow_forward_ios
New York’s real estate market is becoming two different stories: Manhattan, where deals are falling — and the suburbs, where demand is spiking. (iStock, Unsplash)

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July
Home sale price declines are expected for July, after a recent bump, according to a CoreLogic report. (iStock)

Home sale prices got a bump, but a drop is coming: Report

Home sale prices got a bump, but a drop is coming: Report
(Images courtesy of Victor Group)

The Getty condo chops prices up to 53%

The Getty condo chops prices up to 53%
442 Union Street and 257 Berry Street (Google Maps)

Brooklyn’s luxury market reaches new pandemic high

Brooklyn’s luxury market reaches new pandemic high
Marwan Kheireddine (inset), Jennifer Lawrence and 400 East 67th Street (Getty, Compass, BDL Accelerate)

Jennifer Lawrence’s Upper East Side PH sold at 37% loss

Jennifer Lawrence’s Upper East Side PH sold at 37% loss
Senate Minority Leader Chuck Schumer and Senate Majority Leader Mitch McConnell (Schumer by Tasos Katopodis/Getty Images; McConnell by Ting Shen/Xinhua via Getty)

Schumer v. McConnell on SALT: Who’s gonna give?

Schumer v. McConnell on SALT: Who’s gonna give?
111 Leroy Street and 817 Fifth Avenue (StreetEasy, Google Maps)

Luxury deals plummet in Manhattan — again

Luxury deals plummet in Manhattan — again
From left: Jared Kushner, 715 Park Avenue, Deutsche Bank CEO Christian Sewing, and Rosemary Vrablic (Credits: Kushner by BRENDAN SMIALOWSKI/AFP via Getty Images; 715 Park via Google Maps; Sewing by by Thomas Lohnes/Getty Images; Vrablic by PAUL LAURIE/Patrick McMullan via Getty Images)

Apartment sale to banker for Trump and Kushner probed

Apartment sale to banker for Trump and Kushner probed
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...