Wall Street Journal: Facebook CEO Mark Zuckerberg drops $59M on Lake Tahoe properties
The founder and CEO of Facebook, Mark Zuckerberg, has quietly acquired $59 million worth of real estate at Lake Tahoe.
That is according to exclusive reporting by The Wall Street Journal published Thursday.
Per The Journal, the Facebook founder used a limited-liability company, wealth manager and nondisclosure agreements in an attempt to shield the transactions from public view.
The report notes the juxtaposition of the tech pioneer’s privacy efforts amid calls for Facebook to ensure greater privacy for users. Zuckerberg announced a series of new features geared toward improved privacy Tuesday during an event in San Jose.
Support Local Journalism
According to The Journal, Zuckerberg bought two private estates on Tahoe’s West Shore south of Tahoe City.
The first property he purchased is known as the Carousel Estate. It was one of a handful of high-profile Tahoe properties that landed on the real estate market in 2017, as the Tribune reported at the time.
Zuckerberg’s second purchase, per The Journal, was the historic Brushwood Estate on Tahoe’s West Shore.
Although the journal cites sources saying Zuckerberg gravitates toward lower-profile properties, the Brushwood garnered attention when it went on the market, with posts appearing on SFGate.com and elsewhere.
When the property made waves on Tahoe’s real estate market in December 2017, it was listed at $45 million, the Tribune reported at the time.
Zuckerberg purchased the Brushwood in January for $37 million, according to The Journal.
Both properties are located on the same street. Sources told The Journal that Zuckerberg has voiced some degree of interest in purchasing a third property on the street.
EDITOR’S NOTE: This story originally appeared with the headline”Wall Street Journal: Facebook CEO Mark Zuckerberg gobbling up properties at Lake Tahoe”
This post will be updated.
Support Local Journalism
Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.