More on public backlash to Facebook holding company purchase of 700 acre property in Hawaii

Like this Zero Hedge article points out, “what fun is having several billion dollars if you can’t buy expansive swaths of states while trampling on private property rights”, regardless if those owners actually knew they owned the property? My guess is those eight Hawaiian families never really thought about the property as their property considering how many people over the years probably really enjoyed the local scenery and view of the ocean. After all this controversy over this property Zuckerberg’s holding companies purchased, public backlash is intensifying so much that Zuckerberg backtracked on his plans. The other day, Zuckerberg published a note to residents in The Garden Island announcing his intentions to drop his litigation saying that “upon reflection, it’s clear we made a mistake.” Be sure to read the comments at Zero Hedge because they sure do reveal a lot about how people think of Zuckerberg’s Facebook holding company purchase of the 700 acre property in Hawaii.
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Source: Zero Hedge

Protesters Plot “Border Wall” Rally For Tomorrow…At Zuckerberg’s Sprawling $100mm Hawaiian Estate

Tyler Durden’s

January 27, 2017

Back in 2014 Mark Zuckerberg paid $100 million to purchase 700 acres of beachfront property on the North Shore of Kauai. The estate includes 1,000’s of feet of pristine shoreline providing the perfect “safe space” for the 30-year-old Silicon Valley Billionaire and his family.

Unfortunately, there was just one little problem with the purchase…technically the sellers didn’t own the title to all of that land due to the so-called Kuleana Act, a Hawaiian law established in 1850 that for the first time gave natives the right to own the land that they lived on.

So now, according to the Honolulu Star Advertiser, the Facebook billionaire sued a few hundred Hawaiians who still have legal-ownership claims to parts of his vacation estate through their ancestors. Per Yahoo Finance:

Three holding companies controlled by Zuckerberg filed eight lawsuits in local court on December 30 against families who collectively inherited 14 parcels of land through the Kuleana Act, a Hawaiian law established in 1850 that for the first time gave natives the right to own the land that they lived on.

The 14 parcels total just 8.04 of the 700 acres Zuckerberg owns, but the law gives any direct family member of a parcel’s original owner the right to enter the otherwise private compound.

And while Zuckerberg’s lawyer attempted to downplay the lawsuits as a common practice in Hawaii, we suspect the idea of defending your private property rights against one of the top 10 richest people in the world is somewhat intimidating and slightly less than “normal.”

The quiet-title suits filed are designed to identify all property owners and give them the ability to sell their ownership stakes at auction, according to Keoni Shultz, an attorney representing Zuckerberg. Because the ownership stakes are passed down and divided among family descendants by the state, many people don’t realize they have a claim until action is taken against them in court.

“It is common in Hawaii to have small parcels of land within the boundaries of a larger tract, and for the title to these smaller parcels to have become broken or clouded over time,” Shultz told Business Insider in a statement. “In some cases, co-owners may not even be aware of their interests. Quiet title actions are the standard and prescribed process to identify all potential co-owners, determine ownership, and ensure that, if there are other co-owners, each receives appropriate value for their ownership share.”

Of course, the pompous dismissal of property rights isn’t the only thing riling up Hawaiian natives regarding Zuckerberg’s estate. As The Garden Island pointed out, residents are also slightly less than ecstatic about a massive, 6 foot rock wall erected around the estate and blocking the “view that’s been available and appreciative by the community here for years.”

Please go to Zero Hedge to read the entire article.

 

 


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