OpenAI CEO and billionaire Sam Altman has initiated legal action against the San Francisco developer responsible for the $27 million Lombard Street home he purchased in 2020, citing severe construction flaws.
The lawsuit, filed on June 12 in San Francisco Superior Court on behalf of 950 Lombard LLC, claims that Troon Pacific and its CEO, Greg Malin, knowingly sold a home plagued by shoddy workmanship. Altman, who resides at 950 Lombard Street, is linked to the property through Apollo Projects, an investment firm he co-founded with his brother, Jack Altman.
According to the lawsuit, Troon Pacific assured that any issues would be resolved before the sale, but significant defects have since emerged. These include problems with the pool’s waterproofing that caused flooding, improperly installed sewage lines, and a sewer blockage caused by an unpaid contractor’s discarded bags. The suit seeks unspecified damages, including interest and attorneys’ fees.
When Altman purchased the property in March 2020, it was one of San Francisco’s most expensive listings. He expected “luxury aesthetics and cutting-edge functionality,” as marketed by the developer. An Architectural Digest tour highlighted features such as a private garden with century-old olive trees, a garage turntable for cars emerging from a “Batcave” tunnel, and an infinity-edge pool with bay views.
Instead, Altman encountered extensive repairs and financial drain. This lawsuit is one of several against Troon Pacific this year, reflecting ongoing issues with the company’s projects. Troon Pacific has already paid over $48 million to investors for four luxury properties, only two of which were completed.
Despite these real estate woes, Altman continues to drive forward in the tech world. OpenAI, the company he leads, is at the forefront of artificial intelligence innovation. OpenAI aims to develop more advanced systems and test their real-world applications while transitioning to Artificial General Intelligence (AGI). The company plans to move towards more aligned and steerable models, exemplified by the progression from GPT-3 to InstructGPT and ChatGPT, with the goal of transformative technology that minimizes misuse and societal disruption.
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