VC Billionaire Marc Andreessen and Ultra-Wealthy Neighbors Thwart Housing in California Town
Andreessen has been a critic of anti-housing zoning in the past.
Photographer: David Paul Morris/Bloomberg
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With wrought iron gates, mega mansions and towering hedges, Atherton, California, has long been a bastion for Silicon Valley’s ultra-wealthy, where the median home value is north of $8 million. Billionaire venture capitalist Marc Andreessen and his moneyed neighbors have been lobbying local officials to keep it that way.
In a letter to the Atherton Town Council, Andreessen, who is the co-founder of VC firm Andreessen Horowitz, railed against a proposal to add multi-family overlay zones to the wealthy zip code, which would provide incentives for developers to build more housing in the area.