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Mark Zuckerberg Buys 7 Million Dollar Home  
User currently offlineJetBlue777 From United States of America, joined Jul 2009, 1468 posts, RR: 1
Posted (3 years 7 months 3 weeks 4 days 5 hours ago) and read 2435 times:

http://blogs.forbes.com/kashmirhill/...st-new-7-million-home-disappoints/

For a multi-billionaire like him, $7M isn't that much dont you think?

I saw it first on TMZ, I don't get what's all the fuss about. I think his house is simple and nothing too spectacular and over the top. People may call it a rip off, but IMO he paid for the location.



""Meanwhile, TMZ pooh-poohed Zuck’s new home, asking “You Paid $7 Mil For That?” and running a poll for its readers about whether it was a “rip-off.”

The L.A. Times writes: “Even with this big purchase, Zuckerberg is still living below his means — he drives an Acura because it’s safe and not ostentatious and cites ‘minimalism’ and ‘eliminating desire’ as interests on his Facebook profile — and below the standards of some other Silicon Valley technology leaders.""


It's a cultural thing.
33 replies: All unread, showing first 25:
 
User currently offlineDocLightning From United States of America, joined Nov 2005, 20365 posts, RR: 59
Reply 1, posted (3 years 7 months 3 weeks 4 days 5 hours ago) and read 2424 times:

I dunno. If I had his money, I'd probably do the same. I think his view is that he can have whatever he wants, but that doesn't mean that he HAS to have everything in sight. He can have nice things without going overboard.

The house is gorgeous, even palatial (especially by Palo Alto standards). He could have a massive castle, but I don't think he wants one. I wouldn't either. It's him, his girlfriend, and probably a baby at some point. This house is plenty. It speaks highly of his character that he can live well on money that he's earned without needing to flaunt it.

I happen to recognize that house from when I was at Stanford. I know exactly where it is and I entered in the street and confirmed my suspicions. I'm also not telling, because the man deserves his privacy at home.


User currently offlineConfuscius From United States of America, joined Aug 2001, 3879 posts, RR: 1
Reply 2, posted (3 years 7 months 3 weeks 4 days 4 hours ago) and read 2398 times:

Quoting JetBlue777 (Thread starter):
For a multi-billionaire like him, $7M isn't that much dont you think?

He's no Donald Trump. The Donald would have paid $70 million for the same property.



Ain't I a stinker?
User currently offlinePPVRA From Brazil, joined Nov 2004, 8977 posts, RR: 39
Reply 3, posted (3 years 7 months 3 weeks 4 days 3 hours ago) and read 2361 times:

Quoting JetBlue777 (Thread starter):
The L.A. Times writes: “Even with this big purchase, Zuckerberg is still living below his means — he drives an Acura because it’s safe and not ostentatious and cites ‘minimalism’ and ‘eliminating desire’ as interests on his Facebook profile — and below the standards of some other Silicon Valley technology leaders.""

Homes and cars are massive money sinkholes. Good on him for staying reasonable and living beneath his means.



"If goods do not cross borders, soldiers will" - Frederic Bastiat
User currently offlineLAXintl From United States of America, joined May 2000, 26170 posts, RR: 50
Reply 4, posted (3 years 7 months 3 weeks 4 days 3 hours ago) and read 2353 times:

$7mil bought a pretty mediocre house imo.

Quoting PPVRA (Reply 3):
Homes and cars are massive money sinkholes.

You can argue cars, however homes (or property in general) can be fantastic investments. I don't think as a family we've ever owned land or a house we did not manage to earn a nice profit on. (plus add in various tax benefits)



From the desert to the sea, to all of Southern California
User currently offlineBMI727 From United States of America, joined Feb 2009, 15841 posts, RR: 27
Reply 5, posted (3 years 7 months 3 weeks 4 days 1 hour ago) and read 2299 times:

Quoting LAXintl (Reply 4):
You can argue cars, however homes (or property in general) can be fantastic investments

Circa 2007. That just isn't the case anymore.



Why do Aerospace Engineering students have to turn things in on time?
User currently offlineDocLightning From United States of America, joined Nov 2005, 20365 posts, RR: 59
Reply 6, posted (3 years 7 months 3 weeks 4 days ago) and read 2280 times:

Quoting BMI727 (Reply 5):

Circa 2007. That just isn't the case anymore.

It most certainly is in the SF Bay Area. During the depths of the recent recession, housing prices fell to levels that were merely "hard to believe," rather than "outright absurd."


User currently offlineSuperfly From Thailand, joined May 2000, 40076 posts, RR: 74
Reply 7, posted (3 years 7 months 3 weeks 4 days ago) and read 2262 times:

Quoting DocLightning (Reply 1):
I dunno. If I had his money, I'd probably do the same.

  
Agreed!
I'd do the same. My dream house in San Francisco sold for much less than that.
7 Million is barley above the average price for a home in Silicon Valley.



Bring back the Concorde
User currently offlineaerorobnz From Rwanda, joined Feb 2001, 7396 posts, RR: 16
Reply 8, posted (3 years 7 months 3 weeks 3 days 22 hours ago) and read 2216 times:

Maybe he likes getting his hands dirty with a project, with his wealth he could renovate it very nicely and customise it to how he wants it - the property to him must have some feature he wants...

User currently offlineMadameConcorde From San Marino, joined Feb 2007, 10937 posts, RR: 37
Reply 9, posted (3 years 7 months 3 weeks 3 days 20 hours ago) and read 2183 times:

Mark Zuckerberg is free to do whatever he wants with his money.
He will not want to be in a middle-class area, even less in a poor people's district.

He has the financial means to have the house remodelled to his own taste and wishes with whatever inside that suits him most. He could go from the most costly gadgets to genine antique furniture he can buy from the world's top auction houses. Considering his wealth, is possibilities are near unlimited.



There was a better way to fly it was called Concorde
User currently offlinejanmnastami From Italy, joined Apr 2008, 828 posts, RR: 0
Reply 10, posted (3 years 7 months 3 weeks 3 days 16 hours ago) and read 2123 times:

Using Google Maps and looking at the 1400 block of Edgewood Dr, the house is absolutely identifiable.

User currently offlinesw733 From United States of America, joined Feb 2004, 6372 posts, RR: 9
Reply 11, posted (3 years 7 months 3 weeks 3 days 15 hours ago) and read 2109 times:

Quoting JetBlue777 (Thread starter):
For a multi-billionaire like him, $7M isn't that much dont you think?
Quoting JetBlue777 (Thread starter):
I don't get what's all the fuss about.

I think you answered your own question...the fuss is that it isn't much.

Quoting Superfly (Reply 7):
7 Million is barley

Damn that's a lot of barley!

Quoting janmnastami (Reply 10):
Using Google Maps and looking at the 1400 block of Edgewood Dr, the house is absolutely identifiable.

Not only that but if you map the route from his house to "Facebook Offices" in Palo Alto, it's less than 3 miles each way. I'll take that daily commute versus my 39 miles each way!


User currently offlineFlighty From United States of America, joined Apr 2007, 8775 posts, RR: 3
Reply 12, posted (3 years 7 months 3 weeks 3 days 14 hours ago) and read 2075 times:

Props to Zuckerberg. It seems like he is intentionally being modest and striving for contentment by limiting himself. This is a wise path. He needs a certain amount of space for security staff and, maybe, a family someday.

On the one hand, it would be cool to have enough money not to worry about anything. On the other hand, many of us already do... but we aren't living according to modesty and contentment.


User currently offlineLAXintl From United States of America, joined May 2000, 26170 posts, RR: 50
Reply 13, posted (3 years 7 months 3 weeks 3 days 14 hours ago) and read 2073 times:

Quoting BMI727 (Reply 5):
Circa 2007. That just isn't the case anymore.

Sure it is.

Matter of fact, the market decline has only opened the door to fantastic pricing opportunities in both the residential and commercial arena.

There very much continues to be money made off land and property.



From the desert to the sea, to all of Southern California
User currently offlineSuperfly From Thailand, joined May 2000, 40076 posts, RR: 74
Reply 14, posted (3 years 7 months 3 weeks 3 days 10 hours ago) and read 2019 times:

Quoting sw733 (Reply 11):
Damn that's a lot of barley!

Enough to make a lot of good beer.  
Sorry for the incorrect spelling.

Quoting Flighty (Reply 12):
It seems like he is intentionally being modest and striving for contentment by limiting himself.

Intentionally denying pleasure is just as obnoxious as going overboard and being wasteful like other overnight millionaires.



Bring back the Concorde
User currently offlineBMI727 From United States of America, joined Feb 2009, 15841 posts, RR: 27
Reply 15, posted (3 years 7 months 3 weeks 3 days 10 hours ago) and read 1992 times:

Quoting LAXintl (Reply 13):
There very much continues to be money made off land and property.

There is if you do it right. But the idea that renting is flushing money down the toilet and a house is an infallible investment has been thoroughly debunked.



Why do Aerospace Engineering students have to turn things in on time?
User currently offlineMaverick623 From United States of America, joined Nov 2006, 5747 posts, RR: 6
Reply 16, posted (3 years 7 months 3 weeks 3 days 9 hours ago) and read 1988 times:

Quoting LAXintl (Reply 13):

There very much continues to be money made off land and property.

Honestly, it depends on where you are. In Silicon Valley, obviously there's always money to be made on real estate there. In places like Phoenix, let's just say house prices are about to drop again. It sucks for all the people who thought this whole thing was over... I was just looking at houses where people bought them for 70K, put 10K into them to fix them up, and now can't even sell them at 75K.



"PHX is Phoenix, PDX is the other city" -777Way
User currently offlineFlighty From United States of America, joined Apr 2007, 8775 posts, RR: 3
Reply 17, posted (3 years 7 months 3 weeks 3 days 9 hours ago) and read 1988 times:

Quoting Superfly (Reply 14):
Intentionally denying pleasure is just as obnoxious as going overboard and being wasteful like other overnight millionaires.

Yeah. I don't mean denying pleasure, I mean creating it... people who are never satisfied are never satisfied. I am sure if he really wants XYZ he will get it. Think how dumb he would be if he couldn't enjoy himself being young with a fun job and that much $$. But it could all get out of hand so he has to be a little careful.


User currently offlineflanker From United States of America, joined Aug 2005, 1661 posts, RR: 2
Reply 18, posted (3 years 7 months 3 weeks 3 days 9 hours ago) and read 1964 times:

If you've earned it, it doesn't matter if it costs 10$ or 10 million. Props to him and everyone else who can do that.


Calling an illegal alien an 'undocumented immigrant' is like calling a drug dealer an unlicensed pharmacist
User currently offlineMadameConcorde From San Marino, joined Feb 2007, 10937 posts, RR: 37
Reply 19, posted (3 years 7 months 3 weeks 3 days 9 hours ago) and read 1964 times:

This is just one home.

He can also have a penthouse in Manhattan, a mansion on the French Riviera the same as Paul Allen along with a couple of mega-yachts or a chateau in the Loire valley, a villa on Mustique, a Palace in Kashmir and property in Switzerland.

These would all be valuable investments and serve as second residences.



There was a better way to fly it was called Concorde
User currently offlinecanoecarrier From United States of America, joined Feb 2004, 2843 posts, RR: 12
Reply 20, posted (3 years 7 months 3 weeks 3 days 7 hours ago) and read 1927 times:

Quoting DocLightning (Reply 1):
I dunno. If I had his money, I'd probably do the same. I think his view is that he can have whatever he wants, but that doesn't mean that he HAS to have everything in sight. He can have nice things without going overboard.

Well said Doc. Plus, most enormous houses have lots of wasted space in them. To put it in perspective the Vanderbuilt Mansion just sold in Manhattan with 12K sq. feet for $40 Million. I'd rather do what Zuckerberg did and maybe have a second home somewhere else I like to play. It's not like he's slumming it, it looks like a nice place.



The beatings will continue until morale improves
User currently offlinecanoecarrier From United States of America, joined Feb 2004, 2843 posts, RR: 12
Reply 21, posted (3 years 7 months 3 weeks 3 days 3 hours ago) and read 1872 times:

I hate posting after I left the last post, but tonight I went over to a friend's house, who was one a 90's hire at Microsoft. He and his wife have 1 under 1 year old and live in a 4400 sq. foot house. There are 3 rooms in that house they don't even go into. They seriously keep the doors to the rooms closed all the time and don't even have furniture in them. And, the media room they have (which is the same size as our entire 2nd floor) could have been half the size it is. I guess my takeaway is even being a CEO of a big company like Facebook, Zuckerberg is probably just fine having a house that size.


The beatings will continue until morale improves
User currently offlineDEVILFISH From Philippines, joined Jan 2006, 4952 posts, RR: 1
Reply 22, posted (3 years 7 months 3 weeks 2 days 1 hour ago) and read 1705 times:

Quoting JetBlue777 (Thread starter):
“Even with this big purchase, Zuckerberg is still living below his means — he drives an Acura because it’s safe and not ostentatious and cites ‘minimalism’ and ‘eliminating desire’ as interests

What.....no prospect of a private jet to spot?      

Quoting PPVRA (Reply 3):
Homes and cars are massive money sinkholes.

Glad you did not include airplanes!  



"Everyone is entitled to my opinion." - Garfield
User currently offlineNorthstarBoy From United States of America, joined Jun 2005, 1876 posts, RR: 0
Reply 23, posted (3 years 7 months 3 weeks 1 day 22 hours ago) and read 1673 times:
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One thing confuses me....

How is he worth so much? Facebook is privately held, which I assume means he pretty much owns the company, so how does that makes him worth x number of billions? Surely facebook doesn't have that much in ad revenue, which is, I assume what he uses to pay the bills.

On the issue of the house, some people would say that a 5600 square foot house for one guy and his girlfriend is absurd. Personally, i'd hardly call it minimalist, but then again, if I had 7 million to spend on a house i'd probably find the biggest, most ostentatious house i could find and try to make it bigger and more ostentatious!



Why are people so against low yields?! If lower yields means more people can travel abroad, i'm all for it
User currently offlineAaron747 From Japan, joined Aug 2003, 8298 posts, RR: 26
Reply 24, posted (3 years 7 months 3 weeks 1 day 20 hours ago) and read 1658 times:

Quoting NorthstarBoy (Reply 23):
How is he worth so much? Facebook is privately held, which I assume means he pretty much owns the company, so how does that makes him worth x number of billions? Surely facebook doesn't have that much in ad revenue, which is, I assume what he uses to pay the bills.

VC and Wall Street capital adds to the company have driven its valuation to well over $50 billion within the last year or so. Considering his share of the company, it is not difficult to compute his net worth.



If you need someone to blame / throw a rock in the air / you'll hit someone guilty
25 Post contains links and images travelavnut : More than half a billion(!) people currently use Facebook. It is now so integrated in modern live that you have, for example, a Toyota add on televis
26 Post contains images Superfly : Many execs would love to git rid of their wives in favor of younger hotter one anyway so that isn't saying much. Good point. Many people with Faceboo
27 travelavnut : Indeed! To be honest, I think 80% to even 90% of my social communications go through Facebook. Almost all my friends have Facebook in combination wit
28 Post contains images travelavnut : Haha good point, maybe I should replace wife with mistress
29 sw733 : While I am at risk of having my post deleted for being "off topic", I must ask...how is Google becoming too big?
30 Post contains images travelavnut : Lately rumours and reports surfaced that a lot of high seniority developers are going to other, younger, smaller companies because Google is becoming
31 travelavnut : BTW: Exactly the same situation as I described in reply #27
32 Post contains images CXfirst : Some say he overpaid. But when it comes to pocket money, don't we all sometimes overpay? Difference is, our pocket money pays for an overpriced cup of
33 Post contains images DocLightning : Do people still keep money in their pockets?
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