Jeff Vasishta
4 min read
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OpenAI CEO Sam Altman has been making headlines recently due to his company's $6.4 billion purchase of former Apple (NASDAQ:AAPL) design guru Jony Ive‘s devices startup, io.
However, fledgling tech startups are not the only acquisitions Altman has been associated with recently.
Billionaire Altman has been actively buying San Francisco real estate. According to TheRealDeal, Altman purchased three homes for $12.8 million each. All three are located next to another home owned by Altman — a historic six-bedroom, seven-bathroom Russian Hill mansion — purchased for $27 million in 2020.
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That home, however, is the subject of a drawn-out legal battle with developer Greg Malin and his company, Troon Pacific. Altman’s complaints about the quality of construction caused him to file a lawsuit accusing the developer of “substandard work” and “financial embezzlement.”
Altman’s three newest homes and his initial lawsuit-plagued purchase — the lawsuit is ongoing — are all owned by the same LLC, managed by Altman’s cousin, Jennifer Serralta, which suggests, according to Realtor.com, that Altman plans to form a large compound comprising all the dwellings.
Altman's San Francisco homes only represent a fraction of his property portfolio. Business Insider reported that Altman purchased a sprawling estate in Hawaii in 2021 for $43 million. Altman also owns a ranch in Napa, California, where the New York Times reported that he and his husband, Oliver Mulherin, spend many of their weekends. Realtor.com reported that Altman purchased the ranch for $15.7 million in 2020, a considerable discount from its initial asking price of $25.5 million.
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According to Forbes, Altman has a net worth of $1.7 billion. He was already wealthy before joining OpenAI. In 2005, he dropped out of Stanford to form social-mapping company Loopt, which he sold in 2012 for $43 million. He used the money to start his venture capital fund, Hydrazine Capital.
