Jeff Bezos' new $78million Hawaii estate that spans fourteen acres  (2024)

Amazon founder Jeff Bezos just purchased a $78million private Hawaii estate that spans 14 acres and is surrounded by dormant lava fields.

Bezos, 57, purchased the three-building estate on LaPerouse Bay on Valley Isle in Maui, Hawaii, recently for an estimated $78million, adding to his $500 million property portfolio which includes property inNew York City, the District of Columbia, Washington state, California, and Texas.

He is the latest internet billionaire to snap up a waterfront property, despite local discontent.

Facebook CEO Mark Zuckerberg, 37, recently bought a sprawling 600-acre property for a cool $53million on the island ofKauai. He also reportedly owns a 700-acre property on one of the islands that he acquired for more than $100million in 2014.

Oracle co-founder Larry Ellison owns most of the property 141-square-mile island Lanai,located eight miles off the coast of Maui.

It is unclear when Bezos purchased the property, but he donated to theHawaii Land Trust in mid-September, which is responsible for the environmental conservation in Maui. He and his girlfriendLauren Sanchez, 51, reportedly donated to several local charities to feel a part of the community.

Despite donating to an trust, his investment in the island will be unlikely to improve his carbon footprint, given his use of private jets.

The property was sold to Bezos in an off-market deal.

He purchased the estate from Colorado-based holding company Lochland Holdings, which is owned by the Schatz family. Doug Schatz, an energy businessman, was the previous owner, having bought it for $4.2million in 1996.

The property is home to three buildings, including the main structure, which is 4,450 square feet and has three bedrooms and three bathrooms, according to theNew York Postconfirmed.

The second building is1,839 square feet guesthouse withtwo-bedrooms and two-and-a-half bathrooms. And the third is1,815 square feet with three bedrooms and one bathroom.

The entrepreneur's new dig sits on a marine fishing reserve, the New York Post reported.

It is also surrounded by dormant lava fields where theHaleakalā volcano - which is eight times larger than the Empire State Building in New York City and its hotspots can reach up to 2,500 degrees Fahrenheit - last erupted in 1790, according to Haleakalā Ecotours. It is expected to erupt again within 500 years, according to scientists.

Bezos is also reportedly scouting more off-the-market properties in Maui to expand his real estate portfolio in the Aloha State and is reportedly searching for a home for his parents in Montage Kapalua Bay, where he often stays at a luxury resort, according to the New York Post.

It seems Bezos isn't the only internet billionaire who thinks drinking mai tais on their own private resort and hula dancing to the sway of the palm trees sounds fun.

Both Bezos and Zuckerberg have faced backlash from locals for their extravagant purchases from raising housing costs to purchasing property on sacred land.

Bezos has so far only faced backlash for driving up housing costs - which sit around $1million on average, a local told the New York Post.

'It is tough being born and raised here, seeing these real estate transactions and how it can drive up prices,' a source told the New York Post. 'On the island, an average home now costs $1million - way above what most blue-collar workers can afford, so I always struggle with that.'

Zuckerberg, who often finds himself embroiled in controversy, purchased his newest Hawaiian estate from Waioli Corporation - a local nonprofit that preserves historic locations throughout the island, according to Business Insider.

The CEO of the corporationSam Pratt said Zuckerberg and his wifePriscilla Chan would be 'responsible stewards' of the land and had shown dedication to the island.

Other locals, however, are happy billionaires are buying up property.

Ellison, 77, has helped improve infrastructure and parks, including the Pineapple Plantation onLanai.

'On the other side of the coin, you have Ellison. He improved so much of the infrastructure, like the Pineapple Plantation,' a source told the New York Post. 'You had parks deteriorating, infrastructure was in decay and he bought it back to life, essentially.It's hard to know what Bezos' intentions are this early on.'

Ellison owns 98 percent of Lanai and employs the majority of its residents in his resorts and stores after purchasing his majority stake for $300million in 2012.

Although Bezos' new sweet dig won't be the hot party spot around town, as it is reportedly barricaded with several security gates and has around-the-clock security - a local real estate agent did describe it as 'very unique.'

'At the time, it was rustic. It has since several renovations,' real estate agent Anthony Sayles told the New York Post. Sayles used to frequently roam the lands as a little kid. 'My main memory is the coral floors and walking around barefoot. It felt like you were outside living Gilligan's Island style.'

Bezos' new property adds his $500million dollar property portfolio.

The entrepreneur has more than $100million invested in New York City's Flatiron District at the luxurious 212 Fifth Avenue. The billionaire purchased five properties in the same building from 2019 to 2021 and is expected to merge them into one giant mansion.

He also has the second most expensive home in the Los Angeles area. He purchased the Jack Warner Estate - president of Warner Bros. Studios - for a $165million that ended up costing him $175million with renovations. The most expensive home went for $177million.

The Blue Origin founder also has an estate in the middle of a Texas desert dubbed 'Corn Ranch,' which went for an undisclosed amount in the millions.

Bezos also has at least one property in DC, the old Textile Museum, which he paid $23million for and $12million to renovate, and is suspected of having purchased a smaller home across the street for $5million.

However, it isn't just large properties in great locations Bezos' is after. The billionaire - who is estimated to be worth $203billion - also enjoys the fun gadgets that come with being a part of the ultra-rich.

He reportedly owns a $65million jet, as well as is building a $500million superyacht.

And he wouldn't be a billionaire without a weird purchase or two, Bezos also owns a $42million clock that is being constructed inside a Texas mountain and designed to run for 10,000 years. The hollowed-out mountain is also intended to be a part of the Blue Origin spaceport.