Tech Billionaire's Extensive Land Acquisitions in Hawaii Raise Alarms

Quincy Jon, Tech Times 01 March 2024, 12:03 pm

Residents of Waimea, a town nestled at a high altitude with approximately 10,000 residents that has long been celebrated as the birthplace of the Hawaiian cowboy, or paniolo, express concerns about a recent development that has cast a shadow over the rural community as a mysterious buyer quietly acquires extensive land properties.

The community in Hawaii, encircled by thick forests and predominantly composed of Native Hawaiians, emphasizes the need to preserve its cultural identity amid this uncertainty. Whispers of the mysterious land acquisitions first emerged in November, leading residents to speculate about the buyer's identity.

According to NPR, the mysterious land purchases are being connected to billionaire Marc Benioff, CEO and co-founder of San Francisco-based SalesForce, a software giant valued at nearly $300 billion. Benioff was frequently spotted navigating Waimea in his white Hummer pickup, which had previously acquired land there. However, undisclosed purchases since the onset of the pandemic in 2020 have come to light through public records.

(Photo : Darryl Oumi/Getty Images) An estimated 15,000 people line Waimea Bay at watch The Quiksilver in Memory of Eddie Aikau at Waimea Bay on February 25, 2016 in Waimea, Hawaii.

Residents' Concerns

Unlike other tech billionaires favoring coastal locations, Benioff targets property in this rural residential town, often outbidding current market values. Residents are concerned that such acquisitions might increase housing costs, potentially displacing long-standing community members.

Speculation about Benioff's intentions ranges from establishing a Salesforce training center to philanthropic endeavors within local schools. The lack of transparency fuels uncertainty, leaving residents anxious about the potential ramifications for their community.

(Photo : Mike Coppola/Getty Images for TIME)
Marc Benioff attends A Year In TIME at The Plaza Hotel on December 12, 2023 in New York City.

Residents, adhering to a cultural norm known as "no talk stink," an aversion to public criticism, approach the subject cautiously. Longtime inhabitants of Waimea express anxieties about the consequences of a single individual amassing extensive land, raising questions about the potential loss of Hawaii's essence if native Hawaiians find themselves displaced.

In an interview, Benioff acknowledges the land acquisitions but remains tight-lipped about future plans.

Trending: Tech Moguls Acquiring Massive Land Properties

Last year, TechTimes reported on massive land development projects managed by tech billionaires. A website known as California Forever sheds light on a new city built by tech buillionaire in Eastern Solano County, informally known as Cali City. Flannery Associates is managing the 50,000-acre project to provide residential infrastructure, solar farms, and jobs.

Cali City is backed by tech billionaires Marc Andreessen, Patrick and John Collison, Chris Dixon, John Doerr, Nat Friedman, Daniel Gross, Reid Hoffman, Michael Moritz, and Laurene Powell Jobs. The conceptual photos on the website need more information.

Elon Musk was also reported building his own town near Austin, Texas, per recent speculations about the tech CEO's land purchases in the area. If confirmed, Musk would join other billionaires, including Mark Cuban, who owns towns in Texas.

The alleged town is situated adjacent to the SpaceX and Boring Co. facilities currently under construction. Signs and modular homes have reportedly been observed in the vicinity, hinting at the name "Snailbrook," a nod to the Boring Company's official mascot.

While speculation surrounds Elon Musk's intentions, some Boring Co. employees, including CEO Steve Davis, claim that he aims to construct a town and establish his own city. Reports suggest that the town, if realized, will be utilized primarily for Musk's employees, offering rental housing at more affordable rates than local market prices.