How a Tech Billionaire Lost $58 Million Buying a Lake Tahoe Vacation Home

Lake Tahoe has become a refuge for tech billionaires to vacation away from the hustle and bustle of Silicon Valley. The famed outdoor destination in Northern California is a vacation destination for people like Mark Zuckerberg and Larry Ellison, becoming one of the hottest real estate markets on the planet.

One tech billionaire revealed how he lost a whopping $58 million on a Tahoe home, and it’s probably not how you think.

Chamath Palihapitiya is a venture capitalist and minority owner of the Golden State Warriors, making hundreds of millions of dollars off investments in companies like Facebook and Slack. When you’re that rich, sometimes investments go south – like when he purchased a Truckee vacation home in 2014 for 2,739 Bitcoin. Back then, it was worth $1.6 million. Today, those Bitcoin would be $60 million.

It’s a classic tale of Bay Area money being completely ridiculous while also significantly changing the landscape of Tahoe. Just 10 years ago, real estate in the area was dominated by outdoor adventurers and lifelong residents. Today, the tech elite are fleeing the Bay Area and pricing out the locals.

We may never see Tahoe the same way again. Will gentrification, and tech money, destroy one of our favorite destinations?

Active NorCal

Telling the Stories of Northern California


  1. I blog quite often and I truly appreciate your information. Your article has truly peaked my interest.

    I am going to bookmark your site and keep checking for new details about once a week.
    I subscribed to your Feed too. gozo holidays

  2. Greetings! This is my first visit to your blog! We
    are a team of volunteers and starting a new project
    in a community in the same niche. Your blog provided us beneficial information to work on. You have done a outstanding job!
    gozo holidays

  3. Its like you learn my mind! You appear to understand so much approximately this, such as you wrote
    the ebook in it or something. I think that you just could do
    with a few % to power the message house a little bit, however instead of that, this
    is excellent blog. A fantastic read. I’ll definitely be back.
    gozo tourists

  4. Hi there! Someone in my Facebook group shared this website with
    us so I came to look it over. I’m definitely loving the information. I’m book-marking and will be tweeting
    this to my followers! Excellent blog and fantastic style and design.

Leave a Reply

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

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button