Zuckerberg buys 700 acres on Hawaii for $100m

Billionaire Mark Zuckerberg has splurged on two properties in Hawaii — thought to be worth a combined value of more than $100m.

The Facebook founder, worth $33bn, has spent more than $100m on what is thought to be for a private sanctuary for his family on the Hawaiian island of Kauai, according to Forbes.

Sources confirmed to Forbes that Zuckerberg recently made two land purchases on the island — the first, a secluded 393-acre piece of land with its own white sand beach.

According to property records, last month a company named Pila’a 400 LLC paid $49.8m for an 89.2% stake in the property.

The second plot of land is a sugarcane plantation next door that has been on and off the market for a few years.

The plantation, known as Kahu’aina, reportedly features an organic farm and 762m of oceanfront.

According to local paper Pacific Business News, the plantation was put on the market in August for $70m.

The entire property, which has approval for the construction of 80 houses, is thought to have sold for $66m.

Altogether the properties have enough space for 85 homes, but it is thought Zuckerberg will build just one house and use the rest of the land as a buffer zone for privacy.

Zuckerberg will, however, have a neighbour to contend with — an American oil executive from Denver who purchased the remaining 10.8% interest in the Pila’a Beach property.

According to Forbes, Zuckerberg failed in his bid to buy Stewart out.