Meta Platforms Inc. (NASDAQ: META) CEO Mark Zuckerberg is reorganizing his portfolio, selling his $29.6 million mansion in Woodside, California, only to set his sights on a $300 million yacht.

The sale of Zuckerberg’s Woodside mansion, acquired in December 2021, marks a significant shift in his real estate holdings.

This 3.5-acre property was just one among his extensive collection of homes, which currently spans approximately 10 residences scattered across California, along with a vast 1,400 acres of land in Hawaii.

Zuckerberg isn’t downsizing — he’s upgrading his lifestyle, setting his sights on a $300 million yacht. This luxurious vessel, complete with a $30 million partner boat, elevates Zuckerberg’s status in the billionaire’s circle.

His acquisition of the yacht occurred in early March during a trip to the Netherlands, with the vessel making its debut appearance on March 20 at Port Everglades in Fort Lauderdale, Florida, where it is docked.

With Zuckerberg’s net worth soaring to $178.6 billion, he now ranks as the fourth richest person globally.

Despite the price tag, this expenditure is a fraction of Zuckerberg’s wealth, which surged by $28.1 billion following Meta’s recent success in exceeding Wall Street’s expectations.

Additionally, with Meta’s latest announcement of a quarterly dividend, Zuckerberg, holding 350 million shares, anticipates an annual payout nearing $700 million before taxes.

It’s important to note that this payout is solely derived from dividends and does not encompass Zuckerberg’s compensation. In 2022, Zuckerberg received $27.1 million in total compensation, including private security costs and a base salary of $1, according to filings. Information regarding his 2023 compensation has yet to be released.