Where Big Money Comes to Play
EO Staff
6 December 2012 Railroad executive and real-estate developer Kern Schumacher started coming to Lake Tahoe in the 1950s and bought a property in the then-sleepy town of Incline Village, Nev., in 1971, attracted to "the combination of beauty and low taxes.
On what's now considered a prime lakefront spot on prestigious Lakeshore Boulevard, Mr. Schumacher built a 12,900-square-foot contemporary style house, restored an existing 1952 guesthouse and added another guesthouse. His property has a pier with eight boat lifts, a tennis court, a beach-volleyball court, a creek and two ponds stocked with trout.
Today, he has a more glittery group of neighbors as well. Lakeshore's homeowners include former junk-bond king Michael Milken, Sun Microsystems co-founder Andy Bechtolsheim and Commerce One co-founder Tom Gonzales. Oracle billionaire Larry Ellison owns a number of properties on Lakeshore; PeopleSoft founder and Workday Co-CEO David Duffield has snapped up a number of properties on and around the street.
Read Article at [The Wall Street Journal].
