Why secrecy as a service is the new real estate must-have for the super rich

When OpenAI CEO Sam Altman was the victim of back-to-back attacks on his San Francisco home this spring, including a Molotov cocktail hurled at his front gate, it was the worst nightmare come to life for a certain echelon of Bay Area homeowners.

The Russian Hill mansion has been somewhat of a curse for Altman, who gained widespread attention in 2024 when his team filed a lawsuit against the builder, claiming he’d purchased a “lemon.” Once someone’s name is publicly tied to a property, the risks ratchet up. 

“Visibility is seen as a liability,” said real estate agent Ken DeLeon (opens in new tab). “The inherent desire for privacy has been accelerated because of the controversy around AI.” 

DeLeon and other agents who work with the ultra-wealthy are tailoring their services and advice to a new class of AI elite who put a premium on keeping home purchases private. This secrecy-as-a-service approach affects the entire life cycle of a sale, from the moment a property goes on the market through its renovation period to staffing it with private security. 

In practice, that translates to more private listings, nondisclosure agreements before home tours, and an emphasis on obscuring the buyer’s identity through a web of legal entities. Everyone’s trying to avoid having their name splashed in the news when they buy their dream home for tens of millions of dollars.

“A lot of these people are coming into incredible wealth for the first time in their lives, and they’re excited,” said Christie’s Sereno agent Kristin Cashin (opens in new tab). “I want to help them avoid the pitfalls and having to deal with the press immediately.” 

Prospective homebuyers are starting their searches with privacy in mind, said Compass agent Nina Hatvany (opens in new tab), ticking off attributes like having exterior gates, built-in camera systems, a gatehouse for security staff, and extra acreage that sets a home far from the street. Such tactics are known as “landmaxxing.” (opens in new tab)

“As a listing agent, you want to be able to show that a property is nice and secure,” Hatvany said.  

New properties with eye-popping asking prices often make the news, so some homebuyers want to look only at “whisper” listings that get shopped around before hitting the Multiple Listing Service, the database that shares details about homes for sale, Cashin said. That way, fewer people know about the property or its price. 

For a certain caliber of property, Cashin won’t provide details of the floor plan for security reasons. Once the layout is public, bad actors can use it to scout points of entry or ascertain where valuables may be kept, she said.

“There’s a fine line between marketing the property and disclosing information that may actually deter somebody from buying it,” Cashin said. 

High-profile buyers often send a proxy to visit a property on their behalf, but if they attend in person, they may require the listing agent to sign an NDA ahead of time, Hatvany said. 

While all home sales eventually hit county records, a private listing tends to draw less fanfare, giving buyers more time to set up their security posture before the word gets out. 

Given the ease of searching digital property records, no one should be buying a $30 million house under their own name, according to agents. 

“It’s just not the safest move,” Cashin said. 

High-end buyers are typically sophisticated and have a staff equipped to anticipate and handle their privacy needs. But sometimes, especially with newly minted AI millionaires, agents will educate them on how to hide their paper trail. 

For example, they advise buyers to arrange a “double-blind” structure in which one LLC or trust manages another to obscure the buyer’s identity. The buyer shouldn’t be the signed manager of either entity, agents caution. 

Buyers should consider the entirety of their paper trail. Altman’s SF address was connected to his early-stage investment firm, while the xAI founder who recently purchased a $70 million Hillsborough property worked with people tied in public records to his other home. Don’t hire your boutique personal attorney to handle your property purchase, Cashin said: “It could quietly be tracked back to you.”  

Hatvany advises clients that a mortgage can reveal the buyer’s identity. “I say, ‘If you’re getting a loan, talk to the lender about not having your name on the recorded deed of trust,’” she said.  

DeLeon says his privacy services don’t stop once the home’s title has been turned over. “I’ll help them get set up with the best gardeners or the best AV person,” he said, “and I’ll offer to interact with them, to shield them even from these service providers.”

He has a list of interior designers and landscapers who prioritize discretion. The vendors he works with know to put the name of an LLC, not an individual, on a permit application, for example. He also has full-time staff members, including a vice president of development, who can advise buyers on designing their dream property. 

“I try to envision my clients being so busy that they have this problem of wanting to remain private, but they don’t have the time to deal with it,” DeLeon said. He recalled one client who was so wrapped up in work that they’d have to plan phone calls for Saturdays at 11 p.m. “I try to be able to say, ‘Hey, let me coordinate this for you.’”

Once homebuyers have moved in, they need to stay vigilant if they want their residency to remain a secret, he cautions. 

“I tell them that even for Amazon packages, put the name of the name of the LCC to shield your identity,” he said. “Because once the word’s out, you can never get it back again.”