Shulou(Shulou.com)11/24 Report--

CTOnews.com, August 28, according to foreign media The York Times, a "mystery company" backed by tech billionaires is snapping up land in a county in northern California and plans to build a new "supercity" outside San Francisco. The investors behind the company include "some of the most famous figures in Silicon Valley." For example, Silicon Valley recently famous limelight Mark Anderson, Jobs widow Lauren Powell Jobs.

The "mystery company", Flannery Associates, has spent $800m (currently about 5.832 billion yuan) on about 52,000 acres of land in Solano County County, 80km northeast of San Francisco, since 2018, according to court documents.

"We are proud to work with this project, which aims to provide high-paying jobs, comfortable housing, clean energy, sustainable infrastructure, open space and a healthy environment for residents of Solano County," Flannery spokesman Brian Brokaw said in an email. We are pleased to start working with residents and officials, ▲ Touyuan The New York Times said in an email.

Foreign media also said that Flannery's project is actually not the "first attempt" of a tech mogul to build a super city according to his vision.

Elon Musk has been buying land east of Austin, Texas, building a "utopian" town for employees of his company, while Larry Ellison, founder of Oracle, the world's fourth richest man, has bought 98% of the land on Lanai Island for private use.

Foreign media claimed that Flannery is being closely watched by the press after snapping up a lot of agricultural land at above-market prices for four consecutive years in California.

Flannery classified its business as agriculture and registered as a "limited liability company" in Delaware, according to records submitted to the Office of the Secretary of State of California. It is reported that Flannery filed a lawsuit against a group of local landowners in May, accusing them of colluding to fix prices and charging excessive fees when the company tried to buy land, prompting further scrutiny of the company. As part of the review, Flannery revealed that it had been buying land in Solano County since 2018, spending a cumulative total of more than $800m (CTOnews.com Note: currently about 5.832 billion yuan).

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