Historically, Washington, D.C., has been where politcos go to make policy. Today, it's also where the ultra-wealthy go to hobnob with Capitol Hill decision-makers and West Wing movers and shakers. In recent years, a trend has taken shape in the nation's capital, where everyone from tech billionaires and hedge fund titans to crypto crusaders and cabinet picks is descending on D.C., not just for influence, but for real estate. The result? An unprecedented boom in the District's ultra-high-end housing market, with multimillion-dollar properties trading hands at a pace and price point that might even raise brows in famously high-cost locales like Beverly Hills and Palm Beach.
Mark Zuckerberg is the latest of the world's wealthiest to secure a residential foothold in the capital, according to Politco . The Meta CEO, who also maintains homes in Hawaii and California's Bay Area, was recently revealed as the buyer behind a $23 million all-cash purchase in the leafy Massachusetts Avenue Heights neighborhood. The 15,400-square-foot architectural stunner—designed by noted D.C. architect Robert M. Gurney —features five bedrooms, seven-and-a-half baths, two kitchens, and a pool complex fortified by security walls. Located just a quick drive from the White House (or a brisk stroll from Vice President J.D. Vance's residence at the Naval Observatory), it's a strategic buy in more ways than one.
More from Robb Report
-
Robots Just Ran a Half Marathon Alongside Human Competitors in China
-
A 1960s Spanish Villa in L.A. Has Reemerged as a Sophisticated Sanctuary After a 5-Year Makeover
-
A Unique Armagnac Cask-Finished Bourbon From One of the Whiskey World's Most Colorful Characters
A Meta spokesperson told The New York Post the acquisition will allow Zuckerberg to "spend more time [in D.C.] as Meta continues the work on policy issues related to American technology leadership."
Zuckerberg joins a growing cohort of ultra-wealthy tech titans and Trump-aligned business leaders reshaping Washington's high-end housing market. Amazon founder and Washington Post owner Jeff Bezos kicked off the trend back in 2016, scooping up the former Textile Museum in Kalorama for $23 million. The 27,000-square-foot behemoth—once two side-by-side mansions—set the tone for what was to come: a rush of high-net-worth individuals turning D.C.'s historically discreet neighborhoods into billionaire enclaves. It has been widely reported he later shelled out another $5 million for a house directly across the street.
Then came Peter Thiel. The PayPal co-founder scooped up a $13 million estate on Woodland Drive in 2021, Washingtonian reported . The seller? Former Commerce Secretary Wilbur Ross. Former Google CEO Eric Schmidt followed suit, snapping up a storied N Street residence for $15 million . The home was once graced by none other than Jacqueline Kennedy Onassis.
But the tech elite aren't the only ones moving in. Washington's new crop of political appointees is bringing their deep pockets and taste for trophy homes. Howard Lutnick, the billionaire CEO of Cantor Fitzgerald and President Trump's pick for commerce secretary, 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—worth over $700 million, per his financial disclosures—went house-hunting in Georgetown earlier this year. His target became a Federal-style home occupied by Connie Milstein, a former ambassador to Malta, that he acquired for $12.5 million, The Wall Street Journal reported .
Newcomers to Congress and business-world mainstays are planting roots in proximity to the nation's great halls of power, too. David Sacks, the "White House AI and Crypto Czar," picked up a $10.3 million home earlier this year, and nearby, former hedge-fund manager and now Senator David McCormick ponied up $10.5 million for the Georgetown residence of the late attorney C. Boyden Gray, a former ambassador to the European Union.
As for the ripple effects? Hard to miss. Homes that used to sit on the market are now getting multiple offers. Take one Georgetown mansion, for example—originally listed at $13.95 million. The price did drop to $9.99 million, but it still ended up selling over asking in a bidding war, The WSJ reported. Bottom line: being close to Capitol Hill has never been more desirable—or more expensive.
Best of Robb Report
Sign up for RobbReports's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram .
