A new report from Redfin shows that OpenAI and Anthropic employees would collectively have enough wealth to purchase nearly one-third of homes in the San Francisco area after the two companies IPO.
The report highlights the wealth created as a result of the region’s AI boom. The companies have trillion-dollar valuations with likely record-breaking IPOs this year. The report estimates that, after taxes, OpenAI employees would net about $135 billion and Anthropic employees would net about $63 billion. The total value of all homes in San Francisco was $692 billion as of 2024, according to the report. It also estimates that current and former employees could theoretically buy about 20% of all the homes in the San Francisco metro area.
Compass Real Estate Realtor Raziel Ungar said the statistics aren’t surprising and matches his own experience working with clients over the last year in San Mateo County.
“Everything that I’ve read as a consumer about the [effects of] AI, I’m experiencing as an agent,” Ungar said.
So far this year, he’s worked with at least 15 clients working in AI and has seen home prices rise in both modest and high-end neighborhoods. For instance, according to MLS data, Hillsborough prices increased 18% year over year, but it’s not just the county’s most affluent neighborhoods. Other types of homes, priced at around $2 million, are starting to see more competition.
“If you want to buy a three-bedroom home in Burlingame under $3 million, your median square footage is going to be around 1,170,” Ungar said. “That’s how small your house is going to be.”
The area’s real estate market continues heating up, and it certainly isn’t slowing down in San Mateo County. The county consistently ranks number one in the state for highest home prices, at over $2 million.
The wealth spike isn’t limited just to those two companies. A previous Redfin report estimated that SpaceX employees could hypothetically buy roughly 40% of all homes in San Antonio.
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