Skip to content

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.

Marc Andreessen
Marc Andreessen

Photographer: David Paul Morris/Bloomberg

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.