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Zuckerberg spends over $100 mn to buy Hawaiian properties

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IANS New York
Last Updated : Oct 13 2014 | 11:05 AM IST

Facebook co-founder Mark Zuckerberg has reportedly spent over $100 million to buy two massive chunks of land on Kauai - the oldest of the main Hawaiian Islands, Forbes magazine reported.

With this purchase, the 30-year-old billionaire plans to create a secluded 700-acre sanctuary for his family, it added.

The first acquisition is Pila'a Beach, an isolated 393 acre land with a private white sand beach.

The second land is the adjacent Kahu'aina Plantation, a 357 acre former sugarcane plantation.

With a net worth of $32.2 billion, Zuckerberg has paid a reported $66 million for the Kahu'aina Plantation and $49.6 million for Pila'a Beach.

Zuckerberg bought Pila'a Beach from Pfleuger Properties, a Hawaii limited partnership belonging to Jim Pfleuger, a retired local Honda dealer.

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The Pila'a Beach property consists of five separate parcels, each which could be developed into private homes, the report added.

The Kahu'aina Plantation was owned by the California-based Falko Partners, belonging to a Hawaii land owner named Larry Bowman.

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First Published: Oct 13 2014 | 10:54 AM IST

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