jetblue777
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Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 2:18 am

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.""
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DocLightning
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 2:30 am

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.
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Confuscius
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 2:53 am

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.
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PPVRA
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 3:38 am

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.
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LAXintl
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 3:47 am

$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)
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BMI727
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 5:54 am

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.
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DocLightning
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 6:51 am

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."
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Superfly
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 7:27 am

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.
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aerorobnz
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 9:08 am

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...
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MadameConcorde
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 11:26 am

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
 
janmnastami
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 3:18 pm

Using Google Maps and looking at the 1400 block of Edgewood Dr, the house is absolutely identifiable.
 
sw733
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 3:59 pm

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!
 
Flighty
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 5:17 pm

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.
 
LAXintl
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 5:23 pm

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.
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Superfly
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 8:43 pm

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
 
BMI727
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 9:37 pm

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?
 
Maverick623
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 9:43 pm

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
 
Flighty
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 9:45 pm

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.
 
flanker
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 10:21 pm

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.
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MadameConcorde
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sat May 07, 2011 10:22 pm

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.
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canoecarrier
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sun May 08, 2011 12:28 am

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
 
canoecarrier
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Sun May 08, 2011 4:26 am

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
 
Devilfish
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Mon May 09, 2011 6:35 am

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
 
NorthstarBoy
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Mon May 09, 2011 9:30 am

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!
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Aaron747
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Mon May 09, 2011 11:04 am

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.
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travelavnut
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Mon May 09, 2011 11:08 am

Quoting NorthstarBoy (Reply 23):
so how does that makes him worth x number of billions?



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 television. And instead of http://www.toyota.nl/sweepstakes it says go to; http://www.facebook.com/toyotasweepsteakes.

Facebook has one of the most valuable data-sets in human history, the demographics, interests, product preferences, age, education, geographical information, information on events, etc, etc, etc on half a billion people

I know a few marketing execs that would sell their wife for this data  
Quoting NorthstarBoy (Reply 23):
Surely facebook doesn't have that much in ad revenue



Don't underestimate this revenue stream, Google is raking up billions in AddWords revenue. I can imagine Facebook not being far behind on this.
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Superfly
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Mon May 09, 2011 11:22 am

Quoting travelavnut (Reply 25):
I know a few marketing execs that would sell their wife for this data

Many execs would love to git rid of their wives in favor of younger hotter one anyway so that isn't saying much.  
Quoting travelavnut (Reply 25):
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 television. And instead of http://www.toyota.nl/sweepstakes it says go to; http://www.facebook.com/toyotasweepsteakes.

Good point.
Many people with Facebook accounts send messages via Facebook rather than their Yahoo, Gmail or Hotmail accounts.
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travelavnut
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Mon May 09, 2011 11:43 am

Quoting Superfly (Reply 26):

Good point.
Many people with Facebook accounts send messages via Facebook rather than their Yahoo, Gmail or Hotmail accounts.

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 with a Blackberry or iPhone. Of course this is just my social group in a big world, but still.

But people never forget, I can be over tomorrow. In the social media world something is never replaced by a better version of it self. It is always replaced by something inherintly different. 5 years ago MySpace ruled the world, together with some others. Now for the untrained eye Myspace and Facebook are very similar, but the differences are HUGE. And that is exactly the reason why Facebook became what it is today.

The Facebook killer will look nothing like Facebook, and its rise to popularity will probably come as a surprise (like with Facebook). In my very humble opinion Facebook, and for that matter also Google, will remain top dogs for the next 2, maybe 3 years. Then they will become too big (like Google is actually becoming right now) and some underdog will start too chew at Facebooks members base.
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travelavnut
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Mon May 09, 2011 11:45 am

Quoting Superfly (Reply 26):
Quoting travelavnut (Reply 25):
I know a few marketing execs that would sell their wife for this data

Many execs would love to git rid of their wives in favor of younger hotter one anyway so that isn't saying much.



Haha good point, maybe I should replace wife with mistress  
Live From Amsterdam!
 
sw733
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Mon May 09, 2011 12:46 pm

Quoting travelavnut (Reply 27):
Then they will become too big (like Google is actually becoming right now)

While I am at risk of having my post deleted for being "off topic", I must ask...how is Google becoming too big?
 
travelavnut
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Mon May 09, 2011 12:52 pm

Quoting sw733 (Reply 29):
Quoting travelavnut (Reply 27):
Then they will become too big (like Google is actually becoming right now)

While I am at risk of having my post deleted for being "off topic", I must ask...how is Google becoming too big?



Lately rumours and reports surfaced that a lot of high seniority developers are going to other, younger, smaller companies because Google is becoming too bureaucratic.

You have to remember, when Google was starting up it was very VERY different than the giants it was replacing (Yahoo, Exite for example). In those days Yahoo, Exite, Alta Vista, etc were HUGE portals, banners everywhere, mail, search, profiles, homepages, news etc. They forgot their roots (they all started as "search engines"). Google was inherintly different, just offering search, and a damn good one at that. This is the reason why Google is dominating the entire world at this moment   But what is Google doing today? Google Search, Google Mail, Google Docs, Google Maps, Google Adwords, Google Books, Google Checkout, Youtube, Google +1, etc, etc

They have offices everywhere in the world and in a few very short years it has become a multi-national. And with big international business comes red tape...

[Edited 2011-05-09 05:56:21]

[Edited 2011-05-09 06:00:55]
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travelavnut
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Mon May 09, 2011 12:53 pm

Quoting travelavnut (Reply 30):
You have to remember, when Google was starting up it was very VERY different than the giants it was replacing

BTW: Exactly the same situation as I described in reply #27
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CXfirst
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Tue May 10, 2011 4:23 am

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 coffee, his pays for a house...  

-CXfirst
 
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DocLightning
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RE: Mark Zuckerberg Buys 7 Million Dollar Home

Wed May 11, 2011 4:09 am

Quoting CXfirst (Reply 32):
pocket money

Do people still keep money in their pockets?  
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