An Apple cofounder is selling his California ranch at a 37% discount. Take a look at the sprawling property that comes with 7 homes, a private airstrip, and helipad., Business Insider - Business Insider Singapore
by Katie Warren, Business Insider US- Apple cofounder Mike Markkula is selling his California ranch for $37.5 million.
- Markkula, Apple’s third employee and second CEO, invested $250,000 in the early days of the company, which gave him a one-third stake in Apple.
- His property, Rana Creek Ranch, is a 14,000-acre working cattle ranch with a private lake, riding arena, two barns, and a 2,900-foot landing strip and helipad.
- It’s the largest landholding in the Carmel Valley.
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A little-known Apple cofounder has put his sprawling 14,000-acre California ranch on the market for $37.5 million.
Mike Markkula was Apple’s third employee and its second CEO.
Markkula’s property, known as Rana Creek Ranch, is selling at a 37% discount from what he was asking for the property back in 2013. The ranch comes with a one-bedroom, 5,413-square-foot main house with a guest wing, a separate two-bedroom guesthouse, and five other homes, according to ranch brokerage Hall and Hall. The working cattle ranch includes a private lake, riding arena, two barns, and a 2,900-foot landing strip and helipad.
The ranch was previously listed in 2013 for $59.95 million, and then again in 2016 for $45 million. Per Hall and Hall, Rana Creek Ranch is the largest landholding in the Carmel Valley.
Markkula and his wife bought the property for $8 million in 1982. Despite never becoming a household name like Steve Jobs, Markkula was instrumental in Apple’s early days, investing $250,000 in the company and serving as its second CEO. He was one of the longest-serving board member in the company’s history before he left in 1997.
Bill McDavid of Hall and Hall holds the listing for his ranch.
Take a look at Markkula’s sprawling California property.
Mike Markkula, a little-known Apple cofounder, is selling his sprawling California ranch for $37.5 million.
A 1997 New York Times article called the 78-year-old “the least understood” Apple cofounder.
Steve Jobs and Steve Wozniak cofounded Apple in Los Altos, California, in 1976. Markkula soon came on board as the third employee and cofounder with a crucial $250,000 angel investment, giving him a one-third share in the company. He also helped develop the company’s business strategy.
He was Apple’s second CEO after Michael Scott, who Markkula hired.
At a business lecture in Australia in 2012, Wozniak said that Markkula was instrumental in the early days of Apple.
“Mike Markkula was actually the one man and one person who made Apple a successful company,” Wozniak said, according to Perth Now, a local paper.
Markkula left Apple in 1997 after more than two decades, making him one of the longest-serving board members in the company’s history, per Apple.
Markkula’s ranch in Carmel, California, spans 14,000 acres.
The 78-year-old Apple cofounder and his wife, Linda, bought the home and the surrounding land for $8 million in 1982.
“We’ve enjoyed it. We’ve loved it but it’s time to move on,” he told The Wall Street Journal in 2016, when the property was on the market for $45 million.
Before that, the ranch was listed in 2013 for $59.95 million.
Since his departure from Apple, Markkula has since invested in a some startups and donated money to Santa Clara University, for the Markkula Center for Applied Ethics.
The Rana Creek Ranch is the largest landholding in the Carmel Valley, per Hall and Hall.
It’s about 85 miles south of Silicon Valley.
The listing agent for the property, Bill McDavid of ranch brokerage Hall and Hall, told Forbes that “the great lion’s share of the value” of the property comes from its 14,000 acres of land.
“You’ve got more than 20 square miles surrounding you, and there’s a tremendous amount of value that is in the dirt without even looking at the improvements made,” McDavid told Forbes.
While the improvements add value, the land by itself would “still be worth many, many millions of dollars because of the landscape that you can’t recreate,” he said.
The ranch features a 5,413-square-foot main house, a guest house, and five other homes.
Source: Hall and Hall
The main house has 5,413 square feet of space, one bedroom, one bathroom, and two half-baths.
Source: Hall and Hall
The interior is open and airy, with light-colored wood and floor-to-ceiling windows.
Source: Hall and Hall
The kitchen has a large island and an adjoining dining nook.
Source: Hall and Hall
The home’s decor leans into the ranch theme.
Source: Hall and Hall
The bedroom is surrounded by windows.
Source: Hall and Hall
It includes a massive walk-in closet …
Source: Hall and Hall
… and a bathroom with a walk-in shower, a separate soaking tub, and a skylight.
Source: Hall and Hall
The home has a full bar, which Markkula has often used to play cards, he told the Journal in 2016.
Source: Wall Street Journal
There’s also a billiards room.
Source: Hall and Hall
The living area has a vaulted ceiling, a wall of windows, and a fireplace.
Source: Hall and Hall
The main house is connected by a covered walkway to a two-bedroom guest wing.
Source: Hall and Hall
The guest wing has a living area with a fireplace, as well as a kitchen.
Source: Hall and Hall
In addition to the guest wing, the property includes a separate two-bedroom guest house, offices, and staff quarters.
Source: Hall and Hall
Also on the property is a private lake, a riding arena, and two barns.
Source: Hall and Hall
Markkula picked up some ranching skills while living on the ranch. “I love rounding up cows on horseback. It’s very soothing,” he told the Journal in 2016.
Source: Wall Street Journal
An outdoor swimming pool overlooks the ranch’s rolling hills.
Source: Hall and Hall
The property was built for those who travel by private aircraft: it includes a 2,900-foot paved airstrip and helipad.
Source: Hall and Hall
Over the decades, the Markkulas have increased the acreage they own and remodeled the existing structures.
The property would be a perfect purchase for somebody who enjoys the outdoors, watching wildlife, hunting, and riding horses, McDavid told Forbes.
“It’s one of the things Mr. Markkula loved about the ranch more than anything,” McDavid said. “Just kind of being a cowboy and moving the cows to their pasture. But beyond that, you’ve got hiking, ATVs, or you can sit on the deck and enjoy the view.”