Mark Zuckerberg buys more land in Hawaii with aim to do farming - Technology News

Away from the cliche world of mergers and acquisitions, Meta CEO Mark Zuckerberg has reportedly purchased a plot of land in Hawaii. The expensive year-end purchase by Zuckerberg is worth $17 million and adds to his family’s existing real estate on the island. If you are wondering what Zuckerberg will do with this newly bought land, it will be meant for farming and ranching, to your surprise. And no, it will not be used to erect company buildings.

According to the Honolulu Star-Advertiser, Zuckerberg’s new land is on Hawaii’s Kauai island, where the Meta CEO already owns other big plots of land. It is a 100-year-old Ka Loko Reservoir that broke back in 2016, causing floods, which reportedly killed at least seven people in the area. The reservoir still needs repairs and is one of the high-risk dams in Hawaii.

The total holdings of Meta CEO now stands at 1500 acres, which is practically too large to even build homes. And realistically, Zuckerberg is not going to build homes or companies on the entire land. A spokesperson for Zuckerberg and his wife Priscilla Chan told the Honolulu Star-Advertiser that Zuckerberg’s family plans to expand farming and ranching operations and engage more in wildlife conservation on these lands.

That does not mean Zuckerberg does not have a home there. His family owns lavish residences across the land. And he reportedly is in discussion with the local authorities for building permits for a second primary residence on the island. This residence is said to have around 35,888 square feet of living area and would be valued at $35 million. One of Zuckerberg’s current residences is referred to with the nickname of “Ko‘olau Ranch” and is located near former sugarcane farms.

But Zuckerberg's actions often draw criticism, be it a decision for the company Meta or a land purchase. Hogging up big plots of land in rural Hawaii has infuriated local residents, who have come to see Zuckerberg and his wife as a "new monarch". They allege that the couple sidelined the island's local culture and traditions by gobbling up land there, according to a report by Insider. The Kauai community has challenged these purchases ever since the first one that involved 700-acre land purchased for an initial $100 million back in 2014.

Soon after their first land shopping, Zuckerberg and his wife went on a spree, buying more plots of land in Hawaii. Their second purchase was 89 acres of land for $45.3 million. And if acquiring land was not bad enough to anger the locals, Zuckerberg installed a six-foot fence around much of his property on the island, which, to the locals, used to be known for open areas.