BlockBeats reported on Aug. 16, citing The San Francisco Standard, that the real buyer behind a 12-acre estate in Hillsborough, California, that sold for $70 million may be Wu Yuhuai, the 31-year-old co-founder of xAI.
The report said the deal is the highest-priced residential transaction in Northern California so far this year. Property records show the buyer of the estate at 3000 Ralston Avenue as Daikon no Hana Capital LLC. The main residence spans about 12,000 square feet.
Still, the outlet pointed to several details that connect Wu to the purchase. Jia Xu, the agent who handled the buyer side of the deal, also represented Wu last year in his $12 million purchase of a home in Los Altos Hills. The company’s managing attorney also transferred Wu’s previous home into a family trust about a week before this transaction closed. Based on those details, The San Francisco Standard said Wu may be the actual buyer.
Wu co-founded xAI with Elon Musk and others in 2023 and worked on the development of Grok. In February this year, he announced that he was leaving xAI shortly after SpaceX acquired the company in an all-stock transaction that valued xAI at $250 billion.
The estate sold in this transaction includes a six-bedroom main house, a guesthouse of about 4,600 square feet, a tennis court, a nine-hole golf course, a 150-seat outdoor amphitheater, a koi pond, and a 2,100-gallon saltwater aquarium. The property was first listed last fall at $88 million, then cut by $10 million, and eventually sold for $70 million.