Young Billionaire Zhang Bo Has Spent $37M On Six Houses That Mostly Sit Empty In One Sydney Neighborhood

By on November 15, 2019 in ArticlesBillionaire News

Beauty Point is an upscale community in Mosman outside of Sydney, Australia. It's also home to six homes belonging to a mysterious 32-year-old billionaire named Zhang Bo, and a recent Daily Mail report says that he almost never spends any time in any of them, preferring instead to keep them empty through most of the year according to the neighbors.

Zhang snapped up all six properties over the last two and a half years, starting in June of 2017 when be bought the first for $6.2 million. The most recent purchase was on October 21st of this year, when he spent a little over $3 million on his latest acquisition in the area. Altogether he's spent some $37 million on the properties and no one seems to know why, as they have been largely empty since he's bought them.

That's not the only mystery surrounding Zhang, who keeps an extremely low profile with no public internet presence and not even a publicly listed address for his office.

One of the homes does reportedly have "one female occupant" who obviously does not own the house, and a temporary occupant of another house identified himself as a "friend of a friend staying for a few weeks," but for the most part the houses sit unoccupied and unused.

No one seems to know why Zhang bought these properties so clustered together in one area, but one of the few things known about him is that he emigrated to Australia from China's Guangdong Province, and now has Australian citizenship. But where he spends most of his time appears to be a mystery, apart from associations with a friendship with executives at Evergrande, a large property company in China.

You can take a look at the first house that Zhang added to his Mosman home collection, located at 26 Beauty Point Road, in the video below from Simeon Manners:

Articles Written by Joseph Gibson
Joseph Gibson is a freelance writer currently based in Austin, TX. His main interests are movies, music, books, and other things you can watch, read, or listen to. Joseph's favorite billionaire is Paul McCartney.
Did we make a mistake?
Submit a correction suggestion and help us fix it!
Submit a Correction
Discussion