Facebook’s Zuckerberg Buys Palo Alto Home
Perhaps it’s a sign that the famous creator of Facebook is settling down?
According to MercuryNews.com, the notorious month-to-month renter, 26-year-old billionaire Mark Zuckerberg, has purchased his first digs for $7 million: a huge 5-bedroom, 5.5-bath home in an affluent Palo Alto neighborhood. Ever since his move to the Silicon Valley, the Facebook CEO has been a renter — telling a reporter that he found most of the places on Craigslist.
Although his last place was a little bit bigger – 3,800 sq ft with 5 bedrooms and 4 bathrooms — his previous rental was only 1,976 sq ft with 4 bedrooms and 3 bathrooms, pretty modest for a guy whose estimated net worth is $13.5 billion (more than Apple’s Steve Jobs). What these two places had in common was the location; both were only blocks away from Facebook’s headquarters.
Zuckerberg’s new house is a little farther out — about a 10-minute drive from Facebook’s new campus in Menlo Park, but it makes up for it in amenities. The 5,617-sq ft home has more than enough room for the social site founder and includes an outdoor gazebo with wood-burning fireplace, salt-water swimming pool, spa, and carport. The home is set back from the street, covered partially by greenery.
Unlike other tech billionaires, Zuckerberg hasn’t always pursued privacy. He’s often spotted around Palo Alto in restaurants or local farmers markets. And while his new home is luxurious, it’s by no means anything close to other tech founders. CEO of Oracle, Larry Ellison, recently purchased Porcupine Creek, a Rancho Mirage estate previously owned by Yellowstone club founder Edra Blixseth, for $42.9 million.
Zuckerberg began Facebook out of his Harvard dorm room, launching the social media site in 2004. The history of the company and its young founder were recently portrayed in the Oscar-nominated movie, “The Social Network,” only increasing the hype around the fast-growing site. Facebook was recently valued at $50 billion.