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ashington, D.C. has long been a hub for politicians to shape policy, but it's also become a magnet for the ultra-wealthy who want to rub shoulders with Capitol Hill decision-makers and influential figures in the West Wing. In recent years, tech moguls, hedge fund titans, and crypto enthusiasts have flocked to D.C., not just for influence, but for real estate opportunities. This has led to an unprecedented boom in the city's high-end housing market, with multimillion-dollar properties changing hands at a pace that rivals even the most expensive neighborhoods like Beverly Hills and Palm Beach.
Mark Zuckerberg is the latest billionaire to secure a foothold in D.C., purchasing a $23 million home in the Massachusetts Avenue Heights neighborhood. The 15,400-square-foot estate features five bedrooms, seven-and-a-half baths, two kitchens, and a pool complex with security walls. Located just a short drive from the White House, it's a strategic buy that will allow Zuckerberg to spend more time in D.C. as Meta continues its work on policy issues related to American technology leadership.
Zuckerberg joins a growing cohort of ultra-wealthy tech titans and business leaders who are reshaping Washington's high-end housing market. Jeff Bezos kicked off the trend in 2016 with his $23 million purchase of the former Textile Museum in Kalorama, which set the tone for what was to come: a rush of high-net-worth individuals turning D.C.'s discreet neighborhoods into billionaire enclaves.
Other notable buyers include Peter Thiel, who purchased a $13 million estate on Woodland Drive in 2021, and Eric Schmidt, who snapped up a storied N Street residence for $15 million. The tech elite aren't the only ones moving in, however - Washington's new crop of political appointees is also bringing their deep pockets and taste for trophy homes.
For example, Howard Lutnick, the billionaire CEO of Cantor Fitzgerald, recently shattered local records with a $25 million purchase of Fox News anchor Bret Baier's French chateau-style home in Foxhall. Meanwhile, Treasury Secretary nominee Scott Bessent acquired a Federal-style home in Georgetown for $12.5 million.
As these newcomers plant roots in proximity to the nation's great halls of power, the ripple effects are being felt throughout the market. Homes that used to sit on the market are now getting multiple offers, and prices are skyrocketing as a result. Being close to Capitol Hill has never been more desirable - or expensive.
