A mystery company backed by Silicon Valley billionaires has purchased tens of thousands of acres of land for more than $800 million to build a new city near San Francisco

Sat, 08/26/2023 - 21:00

Marc Andreessen, Lauren Powell Jobs, Michael Moritz — Left to right: Marc Andreeseen, Lauren Powell Jobs, and Michael Moritz are some of the prominent Silicon Valley investors who have backed Flannery Associates's pursuit to build a new city in California.
Paul Chinn/The San Francisco Chronicle; Jemal Countess/Getty Images for TIME; Michael Kovac/Getty Images for Vanity Fair

A company called Flannery Associates has been purchasing land in a county near San Francisco.
The company has spent up to $15,000 per acre, court documents show.
Silicon Valley has long sought to build a new city from scratch.

A mystery company backed by Silicon Valley billionaires has been snatching up land in a northern California county in an apparent bid to build an entirely new city in the state.