San Francisco, Friday, September 27, 2024-OpenAI CEO Sam Altman has firmly denied reports suggesting that he plans to receive a substantial equity stake in the company. During an all-hands meeting on Thursday, Altman addressed investor concerns, stating that the claims are “just not true.”
His comments come at a time when OpenAI is navigating leadership changes, including the recent resignations of several key executives, among them Chief Technology Officer Mira Murati.
Earlier reports said that OpenAI is restructuring to transition from a non-profit to a for-profit model, potentially positioning CEO Sam Altman to receive $150 billion in equity.
The move aims to attract more investors by reducing the non-profit board’s control and removing limits on returns. Altman, who co-founded OpenAI in 2015, expressed interest in a potential 7% stake, valued at approximately $10.5 billion, despite previously stating he had no equity.
OpenAI’s Chairman, Bret Taylor, confirmed that the board has discussed potential equity compensation for Altman, but emphasized that no decisions have been made.
This clarification aims to alleviate investor anxiety amid the ongoing shakeup within the organization. Altman stressed that the departures of Murati and two other executives were unrelated to any restructuring plans or media reports, reinforcing a commitment to maintaining stability during this transitional phase.
