Google Co-Founder Is Secretly Buying Up Property And Renting Them Below Market Rate To Help Community
39-year-old Google co-founder Sergey Brin has been known for his generosity. Brin’s giving to the Michael J. Fox Foundation for research on Parkinson’s disease includes an offer to match $50 million in donations through the end of this year.
According to Wall Street Journal, Brin’s latest act was buying up property in Los Altos, California through his small real estate holding firm Passerelle Investment Company, in an attempt to “beautify and transform its sleepy downtown.
The company then rents them out at below market rates to family friendly businesses like children’s bookstore, a children’s playspace, and a child-friendly coffee shop.
The intention was also to help promote and protect local businesses.