Tech Billionaires Behind Mysterious Land Deal To Build Worker Metropolis in San Francisco Bay Area: Report

A group of tech billionaires and venture capitalists have been identified as the buyers who have scooped up an eye-popping 52,000 acres in the San Francisco Bay Area apparently to construct a metropolis for the workers who power their businesses.

The New York Times has tracked down the identities of the investors in the mysterious Flannery Associates, which has committed $800 million to the operation in largely agricultural Solano County 60 miles northeast of San Francisco and encircling Travis Air Force Base.

A survey apparently from the group sent to residents in Solano County earlier this week inquired about potential support for a “new city with tens of thousands of new homes," as well as a solar farm, 1 million new trees, and thousands of jobs.

The Times has now discovered Flannery Associates includes some of the biggest names from the tech industry, including LinkedIn co-founder Reid Hoffman, Stripe co-founders Patrick and John Collison, former GitHub CEO Nat Friedman, and Laurene Powell Jobs, widow of Apple co-founder Steve Jobs, among others.

The plan was the "brainchild" former Goldman Sachs trader Jan Sramek, who was joined by venture capitalists including Michael Moritz, Marc Andreessen and Chris Dixon, according to the Times.

A representative for the investors appeared to confirm the group is planning a new city in the Bay Area.

Spokesman Brian Brokaw said in a statement to KGO-TV: "We are proud to partner on a project that aims to deliver access to good-paying jobs, affordable housing, clean energy, sustainable infrastructure, open space, and a healthy environment to residents of Solano County."

Brokaw said Flannery Associates is looking forward to start a "conversation" about plans starting next week with area residents, elected officials and representatives of Travis Air Force Base.

He emphasized that the investors “care deeply about the future of Solano County and California, and believe their best days are ahead.”

Members of the public and elected officials are skeptical.

“It’s an area that is known for its drought conditions. It makes zero sense," said Catherine Moy, mayor of Fairfield, which would be next to the new city.

"There’s no mass transit. It does not have fresh water .... You’d have to dig wells or convince Fairfield to give water, and that would be a big fat no from us,” she added.