The Billionaire Takeover

Palo Alto is cracking down on its wealthiest residents.

Tech founders are buying up multiple adjacent properties to build massive compounds.

The city was once a standard wealthy college town.

Now, billionaires buy entire blocks and leave homes empty.

Mark Zuckerberg has spent $110 million on 11 homes in one neighborhood.

He paid neighbors triple the market value to move out.

Google co-founder Larry Page owns a cluster of homes managed by LLCs.

One of Page’s properties burned down due to overloaded laundry machines used by staff.

Marissa Mayer bought a local mortuary to host private parties.

She also demolished three townhomes just to build a pool.

The Neighborhood Nightmare

Construction noise is endless.

Delivery trucks and machinery block residential streets.

Private security guards harass locals on public sidewalks.

The middle class is being pushed out entirely.

Median home prices now hover near $4 million!

Longtime residents say the “cool” college town vibe is dead.

The Counterattack

Councilman Greer Stone introduced strict new legislation on Thursday.

The goal is to stop the chaos and protect housing stock.

The law targets anyone buying three or more homes within a 500-foot radius.

Endless renovations will be banned.

Owners must wait three years between major construction projects.

Spare homes cannot remain vacant for more than six months.

Unmarked security vehicles will be prohibited.

The Enforcement Problem

The proposal relies on neighbors to enforce the rules as residents would have to sue the billionaires themselves.

One neighbor asked the obvious question: “Who would sue Mark Zuckerberg?”

Legal experts call the proposal unusual but likely valid.

The City Council will vote on the measures early next year.

Stone admits he will likely never afford a home in the city he governs.