Billionaire Sam Altman Claims $27 Million San Francisco Mansion Is A ‘Lemon’

🌈 Abstract

The article discusses a lawsuit filed by billionaire OpenAI CEO Sam Altman against the developers of his $27 million mansion in San Francisco, alleging a cost-cutting scheme and shoddy construction.

🙋 Q&A

[01] Overview of the Lawsuit

1. What are the key allegations made by Sam Altman in the lawsuit?

• Altman alleges that the developers and contractors "colluded on a cost-cutting scheme" and that the construction was "plagued by shoddy construction"
• Specifically, the lawsuit claims that the developers "skimped on competent or qualified construction managers, designers, and contractors", hired an inexperienced construction manager, and failed to pay contractors on time, leading to "a campaign of sabotage"
• The lawsuit cites issues with the property's waterproofing system, "widespread defective construction", and problems with the plumbing and irrigation systems that have led to raw sewage being dumped near the house

2. What are the legal claims made in the lawsuit?

• The lawsuit alleges negligence, breach of contract, breach of implied covenant of good faith and fair dealing, breach of implied warranty, negligent misrepresentation, unfair competition, and fraudulent inducement

3. What is the background information on the property?

• The 9,500-square-foot, four-story house was built in 2018 and features high-end amenities like floor-to-ceiling glass doors, an open patio, an interior elevator, historic olive trees, and an infinity pool
• The property was purchased by Altman in 2020 for $27 million, which was reported to be the most expensive home listing in San Francisco history at the time

4. What is Altman's net worth and ranking?

• Altman's net worth is estimated to be $1 billion, making him the world's 2,736th richest person