Alphabet Inc. GOOG GOOGL Google co-founder, Larry Page, has added a $32 million personal island in Puerto Rico to his assortment.
What Occurred: The island, Cayo Norte, was bought in 2018 by way of a restricted legal responsibility firm, US Virgin Island Properties, of which Web page and his spouse, Lucinda Southworth, are trustees.
The island was purchased in two sections, a bigger one for $28.7 million and a smaller one for $3.4 million, reported Enterprise Insider.
Cayo Norte, recognized for its white sandy seashores, coral reefs, and as a refuge for endangered sea turtles, is the fifth island in Web page’s assortment, spanning the Caribbean and the South Pacific. The island was beforehand owned by native developer Dan Shelley, who acquired it in 2006 by way of SVI Investments.
The sale was carried out so privately that a number of native land officers in Puerto Rico had been unaware of the change in possession. Web page’s plans for the island stay unknown, with no purposes for growth filed because the possession change.
Web page’s curiosity in Cayo Norte dates again to 2013, based on a deposition from a court docket case in 2016. Web page’s web price stands at $128 billion, and it stays to be seen whether or not he’ll protect Cayo Norte in its pure state.
Why It Issues: Web page’s acquisition of the Cayo Norte island comes amidst a pattern of tech billionaires investing in personal islands and large-scale properties.
Meta Platforms Inc. CEO Mark Zuckerberg has been developing a $100 million compound on the Hawaiian island of Kauai since 2023. He has additionally initiated a project to boost cattle ate up macadamia nuts and beer on his Hawaiian ranch.
Former Google CEO Eric Schmidt has additionally been buying beachfront properties in Miami – he reportedly acquired two adjoining beachfront properties price $63 million on Miami’s Sundown Islands.
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Learn Subsequent: Inside Mark Zuckerberg’s $100M Lavish, Hush-Hush Hawaiian Hideaway
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