Apple co-founder Mike Markkula has relisted his sprawling ranch in Carmel Valley, California, for $37.5 million, a steep drop from his authentic ask of $59.95 million in 2013.
Dubbed Rana Creek Ranch, the 14,000-acre property in a single contiguous block has bountiful water assets, a driving area, two barns, a 2,900-foot touchdown strip, miles and miles of trails, along with a number of residential buildings.
“It’s a working ranch to develop cattle, and the enterprise generates income to keep up the ranch,” stated Mr. Markkula, 78, an angel investor in Apple, who additionally served because the second CEO from 1981-83, after which its chairman from 1985-97.
He and his spouse, Linda, purchased the unique 8,000-acre Rana Creek Ranch for $9 million about 35 years in the past, Mr. Markkula stated. Earlier than the ranch got here onto the market, that they had been trying to purchase one in California for 2 years, however “nothing appeared to get us excited,” he stated.
The couple took a helicopter tour of Rana Creek Ranch, and “the extra we noticed it, the higher we preferred it,” Mr. Markkula stated. They purchased it on the spot.
Over time, they bought various adjoining parcels to develop it, Mr. Markkula stated.
“We cherished that ranch; it’s an exquisite place to go. It has every kind of wildlife, together with bobcats, mountain lions, deer. You identify it and it’s down there,” he stated. “I realized methods to journey horses on the ranch. It’s a lot enjoyable.”