Sam Altman’s $27M “lemon” 7/18/24
TechCheck
CNBC
4.5 • 66 Ratings
🗓️ 18 July 2024
⏱️ 6 minutes
🧾️ Download transcript
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| 0:00.0 | Real estate prices in San Francisco continue to shatter records with the median sale price of the home |
| 0:05.7 | nearing one and a half million dollars that's according to Redfin but the Bay Area is buzzing about one prominent |
| 0:11.5 | tech CEO's pricey |
| 0:14.0 | that turns out is not all it's cracked up to be our dear |
| 0:17.2 | drebosa has the story on today's tech check this sounds juicy dear |
| 0:21.0 | dreja this is a do. It's a fun story too. |
| 0:23.6 | That would be Open AI founder and CEO. |
| 0:26.1 | Sam Altman, he paid $27 million for a mansion, |
| 0:29.6 | just 10 minutes from where I am now. |
| 0:31.8 | Once San Francisco's most expensive single family listing. |
| 0:35.3 | Let me give you the good first. |
| 0:36.7 | This is a video of the home from Architectural Digest four years ago when it was listed |
| 0:41.1 | for more than 40 million dollars. It's 9,500 square feet, city and |
| 0:45.0 | bay views, four-sided infinity pool, wellness cottage, even a bat cave leaving into the garage. |
| 0:52.1 | But here's the twist. In a lawsuit filed against Trune |
| 0:55.0 | Pacific and its CEO, the home's owner accuses the developer of a fraud scheme |
| 1:00.2 | to sell a home, quote, plagued by instances of poor workmanship and defects. |
| 1:05.4 | The suit points to issues like shoddy workmanship, the widespread presence of mold, |
| 1:09.7 | leakage from that infinity pool, and defective piping that dumped raw sewage on the property. |
| 1:17.0 | Before he feel too bad for Altman or question his due diligence, he purchased this home in March of 2020 for more than 30% below |
| 1:24.0 | listing price when interest rates were near zero and the pandemic had just hit. |
| 1:27.8 | This report from Compass shows a recovery in San Francisco luxury home sales since then. |
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