PayPal founder Peter Thiel loses $10m property offer in New Zealand

PayPal founder Peter Thiel loses $10m property offer in New Zealand

Peter Thiel, co-founder of PayPal and a billionaire, was denied permission to construct a multimillion-dollar “eco-lodge” in a scenic area of New Zealand on the grounds that it would have a negative influence on the environment.

Thiel, who is reported to be worth $7.7 billion, has applied to develop a huge resort with a spa, “meditation pod,” and library overlooking Lake Wanaka on the picturesque South Island of New Zealand.

Thursday, the Queenstown-Lakes district council denied the proposal after environmentalists protested that it would “damage our wonderful lake ecosystem.”
In their decision, councillors stated that the residence will be “of a such substantial scale and impact that it would be unnecessarily prominent and grab the eye.” In doing so, they dismissed Thiel’s attorneys’ assertions that concerns were based on the principle of “environmental protection at any costs.”

 

According to friend and fellow billionaire Sam Altman, Thiel, an ardent libertarian and ex-Trump supporter, already owns property in New Zealand. He was drawn to the nation because he feels it would be the safest spot to survive a big global calamity.

 

Plans for a’meditation pod’ at the property were discarded during the application process in an effort to please protestors. However, when inspectors visited the site, they were concerned about the home’s size and its visibility from various places around the lake.

 

According to The Guardian, 18 acres of land would have been required to create the property due to its integration with the surrounding environment.

 

Upper Clutha Environmental Society stated in a six-page statement to Queenstown Lakes District Council that it opposes the proposal in its entirety and that the proposed structures will detract from the natural scenery.

 

The Society said that Mr. Thiel “has not significantly avoided, corrected, or alleviated undesirable consequences,” labeling the ideas as “inappropriate” and added that the proposed construction is “very unlikely” to pass the “reasonably difficult to see criteria” established by the local council.

 

Longview Environmental Trust stated that the site was unsuitable and would be very visible. The Guardian claimed that local homeowner John Sutton stated in a letter to the council that the resort would “damage our wonderful lake environment.”

 

The council received seven official comments opposing or requesting modifications to the plan, but none in favour.

The entrepreneur first visited New Zealand in 1995 when he was 28, according to an in-depth investigation by The New Zealand Herald - and is also a big fan of The Lord of the Rings movie trilogy, which was filmed in New Zealand

In a permit application for the lodge on the entrepreneur’s land, his business, Second Star Ltd, stated that the facility would have a “pod,” water features, and meditation area.

They show several buildings that are designed to blend into the landscape, a private home built into a hillside as well as a larger luxury lodge with enough space for 24 people

The plan asserts that the architects “have designed the idea to meld the buildings into the undulating terrain that surrounds them” and that “all of the structures have green roofs that reach to the ground at either end of the buildings.”

The earthworks required to build it would cover over 73,700 sq m of land

The green roofs are to be planted with the same variety of flora (and a few pebbles) as the surrounding hillock landforms.

 

In addition, it includes “a succession of standalone buildings, including a lodge for visitor housing for up to 24 guests, an accommodation pod for the owner, and lodge management buildings, infrastructure, landscape treatment, water features, and a meditation area.”

 

It would require more than 73,700 square meters of land to accommodate the necessary earthwork.

It also describes 'a series of stand-alone buildings, including a lodge for visitor accommodation for up to 24 guests, accommodation pod for the owner, together with associated lodge management buildings, infrastructure, landscape treatment, water features and meditation space'

In August, Kengo Kuma & Associates, the architects of the Tokyo Olympic Stadium, submitted a planning application outlining the construction.

 

They display numerous buildings that are supposed to fit into the surrounding environment, including a private residence carved into a hillside and a bigger luxury lodge with accommodation for 24 guests.

 

The application states: ‘The applicants want to construct a lodge for guest lodging purposes, which consists of three separate buildings but is erected as an one building, which are described as a series of pods in the landscape assessment.

 

Additionally, the Owner’s Pod, the rear of home, and a meditation pod will be built. All structures shall be developed in close proximity to the building platform specified on the title.

 

“The lodge is meant to blend the building forms into the context of the environment and the location, while affording each guest room with unbroken views of Lake Wanaka and the Southern Alps to the north.”

 

The lodge’s position affords the convenience of access to Wanaka’s shopping, eating, and cultural opportunities, while still offering guests with a sense of seclusion.

 

The lodge can sleep up to 24 guests (two per bedroom) and an extra six in the Owner’s Pod. At peak periods, up to fifteen personnel will be on-site, although none of them will dwell there. As depicted on the Landscape Plans, an informal walking path (compacted hardfill subbase with an amenity gravel surface) is planned around portions of the property, with vantage places for guests to observe the vista.

 

It is intended that the meditation room be a calm location separate from other buildings where guests may contemplate, meditate, and relax.

 

In 2017, it was revealed that Mr. Thiel was awarded New Zealand citizenship by the government. Applicants must have been a permanent resident of New Zealand for at least 1,350 days in the five years before their citizenship application.

 

On account of Mr. Thiel’s entrepreneurial and philanthropic achievements, however, the government relaxed the requirement.

 

According to an in-depth study by The New Zealand Herald, the entrepreneur first visited New Zealand in 1995, at the age of 28. He is also a huge admirer of The Lord of the Rings film trilogy, which was filmed in New Zealand.

 

Silicon Valley tycoons view New Zealand as a place to avoid government interference, and it has become a favourite destination for the ultra-wealthy in recent years.

 

Reid Hoffman, one of Mr. Thiel’s PayPal co-founders who subsequently founded LinkedIn, told the New Yorker that New Zealand was viewed as insurance against the collapse of the United States.

 

Mr. Hoffman stated that saying you are “purchasing a property in New Zealand” is akin to “wink, wink, say no more.”

 

Mr. Thiel invested in the New Zealand accounting software firm Xero, whose CEO, Rod Drury, stated that American millionaires “see New Zealand as a bit of a bolthole.”

 

Mr. Thiel told Business Insider in 2011 that he had discovered “utopia” in New Zealand, and he met with key leaders including the prime minister and the finance minister.

 

Authorities justified their decision to award Mr. Thiel citizenship by stating that he had been an outstanding representative and seller for the nation.

 

At the beginning of the year, billionaire co-founder of Google Larry Page was given residence in New Zealand.