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Utah’s richest man secures all planning approvals to build Park City mansion

Matthew Prince is the founder and CEO of the cybersecurity company Cloudflare and has a net worth of nearly $3 billion.

The Park City planning department has granted all approvals for the billionaire owner of The Park Record to build a new home exceeding 10,000 square feet on Treasure Hill.

Park City Planning Director Rebecca Ward signed off Thursday on a Historic District Design Review for Matthew Prince’s proposed home, which has faced significant opposition from some Old Town neighbors.

Outside of a building permit, the project now has all necessary approvals from Park City government for construction.

During the public hearing Thursday, Park City area resident Nic Norsk said the home’s design approval sets a dangerous precedent for future development.

“All of us suffer, greatly or not greatly,” Norsk said, “depending on those precedents that you set in Park City.”

[Prince is the founder of the computer security company Cloudflare and, according to Forbes, is the second-richest Utahn, behind Gail Miller. Forbes estimates Prince’s worth at $2.9 billion.]

Read more at kpcw.org.

This article is published through the Utah News Collaborative, a partnership of news organizations in Utah that aim to inform readers across the state.