THE

ANNEX

updated

← AI Today
AI Today · daily note
No.
265
•
•

The Equity House

April 26th, 2026 | By Jorge Rodriguez

Investment banker Storm Duncan offered a 13-acre property in Mill Valley, north of San Francisco, in exchange for private Anthropic equity. Duncan bought the property in 2019 for $4.75 million and later moved to Miami during the pandemic. He described the proposed trade as a diversification play, pairing his heavy exposure to real estate with an Anthropic employee whose wealth may be concentrated in company shares. Deal terms remain private. Duncan said the buyer would avoid selling the stock outright and retain 20 percent of its upside during the lockup period. He invited interested parties to contact him by email.

The offer makes two Bay Area stores of wealth directly exchangeable. A house normally enters a sale through a listed price, financing, appraisal, and cash settlement. Here, an illiquid stake in an AI company becomes the unit by which land and residence are valued. The arrangement also describes a narrow social circuit. One owner has a large property and wants AI exposure, while a startup employee may have paper wealth and want a house. Each asset carries a different restriction, from a stock lockup to the practical costs of holding thirteen acres. The proposed contract would settle their relative value privately, before either Anthropic shares or the property meet an open market.

No.
265
•
•

Latest from AI Today