Sam Altman denies plan to offer equity in OpenAI for profit

Altman told OpenAI employees in an all-hands meeting Thursday that there are no plans to give them a “giant stake” in the new for-profit venture, CNBC reported, citing an anonymous employee. As for receiving a stake in the company, Altman added, “There are no current plans here.”

The CEO’s statement contradicts reports that OpenAI was considering giving him a 7 percent stake, which could increase his net worth by $10 billion, Bloomberg reported. OpenAI is working to raise $6.5 billion at a $150 billion valuation, which would make it one of the most valued startups ever.

The possible equity grant would also make Altman, who is already a billionaire, compliant Forbes estimates, one of the richest people in the world, Bloomberg reported.

During the meeting, both Altman and OpenAI’s chief financial officer, Sarah Friar, said investors were concerned about Altman not owning a stake. On Thursday, Reuters reported that OpenAI is considering changing to a for-profit benefit corporation, with the nonprofit entity remaining intact and receiving a minority stake in the for-profit side.

In response to a question about the possibility of Altman receiving equity, an OpenAI spokesperson directed wealth to a statement from board chairman Bret Taylor.

“The board discussed whether it would be beneficial to the company and our mission for Sam to be compensated with equity, but no specific figures were discussed and no decisions were made,” Taylor said in the statement.

The changes come as recent executive departures force the company to reshuffle its leadership. On Wednesday, Mira Murati, the company’s chief technology officer, stepped down from her role after six and a half years. Two other senior staff followed her out the door.

Murati wrote in a note published to X that she felt the time was right for her to leave.

“There is never an ideal time to walk away from a place you cherish, but this moment feels right,” she wrote in the note.

OpenAI has faced a wave of high-profile exits in recent months, including those of two co-founders, Ilya Sutskever and John Schulman. Sutskever, a former board member, helped orchestrate Altman’s short-lived exit from the company in November before leaving to found his own AI startup, Safe Superintelligence. Schulman left OpenAI to join competitor Anthropic.

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