by Mark Zuckerberg doubles his huge piece of paradise. The Meta -CEO is reportedly expanding its vast compound of $ 300 million in Hawaii with an additional 1,000 hectare, according to *Wired. *
The aggressive dealing of the technical billionaire on the small island of Kauai has drawn both support and recoil from the local community. This is why the movements are so controversial and the lessons it offers for real estate investors.
Since their arrival in 2014, Mark Zuckerberg and Priscilla Chan have invested a total of $ 311 million on the island. Part of that money went to efforts for agriculture and environmental protection, spokesperson Brandi Hoffine Barr told Wired, while some went to local non-profit organizations and charter schools.
The construction of the building has also created many new jobs for the locals, according to the New York Post.
However, some locals and government officials have also confirmed the presence of several cemeteries on the estate, according to wired. Hawaiian regulations require the reporting of such cemeteries, but some are concerned that the non -public opposition agreements signed by employees can make that process more difficult.
For others this is an early indication of how the presence of one of the richest families in the world influences local culture and heritage of a relatively small community. “If our island has the hope to stay Hawaii, this kind of activities must stop,” Puali’i Rossi, a professor in native Hawaiian Studies at Kauai Community College, told Wired. “In the end, Hawaii will no longer look like Hawaii – it will be a resort community. We really think about 100 years about now, what this island will look like?”
The current Saga offers some important lessons for ordinary real estate investors.
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The return to the aggressive land bench of Zuckerberg should increase red flags for regular investors. Whether you buy thousands of hectares on the beach or a small farm in Nebraska, the future of the community is just as important as the value of the country.
