Buy the California home of a former Apple CEO for just ... $37.5 million

Buy the California home of a former Apple CEO for just … $37.5 million


Former Apple CEO Mike Markkula's Rana Creek Ranch in Carmel Valley is up for sale. What better purchase to show off your Apple fan credentials?
What better purchase to show off your Apple fan credentials?
Photo: Hall and Hall

Want to own the home of a former Apple CEO? Wouldn’t we all? Unfortunately, you’ll need to pony up $37.5 million to do so.

Belonging to Mike Markkula, the angel investor who played a critical role in Apple’s early days, the ranch is the largest single landholding in Central California’s Carmel Valley. Markkula reportedly purchased it in 1982 for $8 million. He’s been trying to sell it since at least 2013 — and has dropped the price substantially during that time.

A video by the listing agency, Hall and Hall, lets you take a look around.

Your $37.5 million does stretch pretty far, it turns out. In Carmel Valley — hardly an undesirable area to live — that kind of coin will net you approximately 14,000 acres of land. That includes multiple dwellings, your own private lake, a couple of barns, offices, a horse-riding arena, and, of course, your very own helipad.

iDropNews notes that Markkula originally put Rana Creek Ranch on the market for $59.95 million in 2013. Since then, however, he lowered the price a few times to its current $37.5 million.

Mike Markkula's Rana Creek Ranch as seen from the air
Rana Creek Ranch from the air.
Photo: Hall and Hall

Mike Markkula is one of the most important figures in Apple history

A discount of more than $20 million is more cash than most of us could dream of seeing in a lifetime. But it’s just a comparative drop in the ocean for Markkula, who invested $250,000 in Apple in May 1977. Of this, $80,000 was an equity investment and $170,000 was a loan.

In what is surely one of the smartest business investments in history, this made him a one-third owner of the company, alongside Apple co-founders Steve Jobs and Steve Wozniak. It also made Markkula Apple’s official third employee. He took the role of CEO from 1981 to 1983, and served as chairman from 1985 through 1997. He retired from Apple in 1996 after Jobs returned. Today, Markkula’s net worth is estimated at well over $1 billion.

Swanky house aside, Markkula is a fascinating figure in Silicon Valley history. If you’re interested in finding out more about him, I’d thoroughly recommend Leslie Berlin’s excellent book Troublemakers: Silicon Valley’s Coming of Age, which profiles the legendary investor.