Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Tuesday, May 27, 2025
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

Why does Marc Benioff own so much land in Hawaii?

March 6, 2024
in Business
Reading Time: 3 mins read
A A
Why does Marc Benioff own so much land in Hawaii?
0
SHARES
ShareShareShareShareShare

Why does Marc Benioff own so much land in Hawaii?

Billionaire Salesforce CEO Marc Benioff has deep-rooted connections to Hawaii, and he’s been suspiciously quiet about them for the most part. He has long maintained a beachside mansion in Waimea, and recently got caught buying up swaths of land in Hawaii, which was all revealed in an NPR exposé. He’s also infamous for referring to his Salesforce employees as “ohana,” or the Hawaiian concept of family. 

READ ALSO

EU plans to ‘fast track’ trade talks with US amid tariff fight

Half the world population could be diabetic or insulin resistant by 2050

Now he’s announced a major donation—one of the largest in the state’s history—to three hospitals on the island. The $150 million gift announced Tuesday from Benioff and his wife, Lynne, brings the couple’s total philanthropy in Hawaii to more than $250 million, “including recent gifts of 282 acres for affordable housing on the Island of Hawaii and another 158 acres owned by a separate nonprofit entity for charitable use,” according to a press release. 

Of the $150 million gift announced Tuesday, $50 million will go to the Hilo Medical Center to build out a family birthing center, intensive care unit, neurosurgical program, and behavioral health services. The remaining $100 million will go to Hawaii Pacific Health to create a health care campus at the Honolulu-based Straub Medical Center, promising to “deepen connections” between Hawaii hospitals and UCSF Health in San Francisco.

“We feel fortunate to have been part of the Hawai‘i community for many decades and to be able to support our ohana in this way,” the Benioffs said in a statement. “Nothing is more important than the health of our community, and access to care for all who need it.”

But Benioff bought more than 600 acres in Hawaii since 2020 that are worth a combined $100 million, according to the NPR story. A spokesperson for the Benioffs says, however, they’ve donated much of that land.

“Marc and Lynne have donated almost 75% of the total land they’ve purchased in Hawaii over the last quarter century, and well over 90% of the land they’ve purchased since 2020,” the spokesperson told Fortune in a statement. “This includes 282 acres donated to the Hawaii Island Community Development Corporation (HICDC), a non-profit developer of affordable housing, and 158 acres to a separate non-profit that holds the property for HICDC if it chooses to use it, or for other philanthropic uses if it does not.” 

Assuming the Benioffs have donated 90% of the land they’ve bought since 2020, they still personally own 60 acres in Hawaii. That’s nearly 200% of what an average homeowner in Hawaii has, according to data from Today’s Homeowner, where the average plot size is 0.23 acres.

Hawaiian housing struggles

Housing affordability in Hawaii has gotten so bad that there has been a mass exodus of natives to other U.S. cities—and Hawaiian homes cost more than twice the national average at more than $670,000, according to a University of Hawaii study.

But for the ultra-rich, like Benioff, housing costs aren’t a problem. Plus, Hawaii has the lowest property tax in the nation, meaning the wealthy can get a major tax break for buying land and properties there. Benioff saves roughly a quarter million per year for all 600 acres, previous Fortune reporting shows.

Other millionaires and billionaires have also started buying properties on Hawaii to build bunkers to retreat to in the event of an emergency, but Benioff denies that’s what he’s doing.

“I’m not a prepper,” Benioff told NPR reporter Dara Kerr. “We don’t have outsized properties. We have basically enough for ourselves.” Benioff was so bothered by Kerr’s digging that he allegedly kept tabs on her location on the island, looked into her personal life, and even contacted her CEO after her major discovery.

Subscribe to the Eye on AI newsletter to stay abreast of how AI is shaping the future of business. Sign up for free.

Credit: Source link

ShareTweetSendSharePin
Previous Post

AI is the talk of the town, but businesses are still not ready for it

Next Post

Lawyers for Meta, Mark Zuckerberg seek dismissal of lawsuit alleging the company didn’t protect users from human trafficking and child sexual exploitation

Related Posts

EU plans to ‘fast track’ trade talks with US amid tariff fight
Business

EU plans to ‘fast track’ trade talks with US amid tariff fight

May 26, 2025
Half the world population could be diabetic or insulin resistant by 2050
Business

Half the world population could be diabetic or insulin resistant by 2050

May 26, 2025
Memorial Day 2025: What stores are open and closed?
Business

Memorial Day 2025: What stores are open and closed?

May 26, 2025
4 former Volkswagen managers convicted in ‘dieselgate’ emissions-cheating scandal
Business

4 former Volkswagen managers convicted in ‘dieselgate’ emissions-cheating scandal

May 26, 2025
European markets surge on Trump call to delay 50% EU tariffs until July 9
Business

European markets surge on Trump call to delay 50% EU tariffs until July 9

May 26, 2025
Singapore’s ComfortDelGro will bid for Melbourne’s rail line as it takes its public transport model global
Business

Singapore’s ComfortDelGro will bid for Melbourne’s rail line as it takes its public transport model global

May 26, 2025
Next Post
Lawyers for Meta, Mark Zuckerberg seek dismissal of lawsuit alleging the company didn’t protect users from human trafficking and child sexual exploitation

Lawyers for Meta, Mark Zuckerberg seek dismissal of lawsuit alleging the company didn't protect users from human trafficking and child sexual exploitation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

Bill Belichick’s ex Linda Holliday has Nantucket socialites on her side as Jordon Hudson gets ‘iced out’

Bill Belichick’s ex Linda Holliday has Nantucket socialites on her side as Jordon Hudson gets ‘iced out’

May 20, 2025
Germany finally has a leader. Now comes the hard part for Merz

Germany finally has a leader. Now comes the hard part for Merz

May 7, 2025
Trump touts ‘planned partnership’ between U.S. Steel and Nippon Steel, signaling potential approval of Japanese company’s buyout bid

Trump touts ‘planned partnership’ between U.S. Steel and Nippon Steel, signaling potential approval of Japanese company’s buyout bid

May 24, 2025
Apple blocks Fortnite iOS App Store resubmission, Epic Games says

Apple blocks Fortnite iOS App Store resubmission, Epic Games says

May 16, 2025
Trump delays EU tariffs — but more volatility could be on the way

Trump delays EU tariffs — but more volatility could be on the way

May 26, 2025
Junk bonds: CCC vs B spread offers a warning sign for debt

Junk bonds: CCC vs B spread offers a warning sign for debt

May 25, 2025
Knicks acknowledge brutal reality after Game 1 choke

Knicks acknowledge brutal reality after Game 1 choke

May 22, 2025

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Jalen Brunson NYC look-alike contest draws diehard fans as Knicks playoff frenzy spreads
  • Joey Chestnut reveals if he expects to compete at Nathan’s hot gog contest this summer
  • Amanda Balionis snaps back at trolls after controversial interview
  • Apple’s AirPods 4 with ANC drop to $149 for Memorial Day

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In