OpenAI CEO Sam Altman went on $85M real estate splurge

Before he was out and back in again, OpenAI CEO Sam Altman went on a real estate spending spree.

Between early 2020 and mid-2021, Altman spent $85 million on residences in San Francisco, Napa, and an estate in Hawaii, Business Insider reported.

Altman’s $43 million Hawaii property, acquired in July 2021, spans 12 bedrooms in Kailua-Kona on the Big Island, adjacent to a national landmark — a reconstruction of the royal temple of King Kamehameha I.

Videos of the property showcase amenities like cliff jumping, motorboating, and scuba diving. Altman’s purchase of the property was uncovered by examining business and real estate filings linked to an LLC managed by Jennifer Serralta, Altman’s cousin and COO of his family office.

In addition to his Hawaii estate, Altman’s real estate portfolio includes a $27 million San Francisco home purchased in March 2020, serving as the base for various investment vehicles. 

His weekend retreat is a $15.7 million working ranch in Napa, acquired in late 2020, covering 950 acres with five homes and vineyards. Altman frequently flies friends and colleagues to the Napa property.

Altman’s salary is just $58,333, according to IRS filings, and he professes that his equity stake in OpenAI is “immaterial.” But his acquisitions reflect the lifestyle of Silicon Valley titans, joining the likes of Mark Zuckerberg, Larry Ellison, Marc Benioff, Jeff Bezos, and Peter Thiel, who also own substantial properties in Hawaii. 

— Ted Glanzer