Zuckerberg spends over $100 mn to buy Hawaiian properties

New York: 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.

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.