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Sam Altman denies OpenAI equity stake rumored to be $10 billion windfall
Fortune
Follow
9/28/2024
Sam Altman’s wealth could soar to $10 billion if he receives an OpenAI equity stake.
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Tech
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00:00
Sam Altman's decision to drop out of college ended up leading him on a path to success,
00:04
including a potential $10 billion stake in OpenAI. Altman dropped out of Stanford in 2005
00:11
to launch his first startup, Loopt, a location services app. Loopt sold in 2012 for $43.4
00:17
million, which put Altman on the map in Silicon Valley. Now he's the CEO and co-founder of OpenAI,
00:24
the artificial intelligence company behind ChatGPT. Altman is worth $2 billion, according
00:29
to Bloomberg. But now his wealth could skyrocket if OpenAI drops its non-profit status. If that
00:35
happens, OpenAI's valuation could hit $150 billion, and Bloomberg's reported that Altman's
00:41
7% stake could help his fortune surpass more than $10 billion. But Altman said in an all-hands
00:47
meeting on Thursday that there are no plans for him to receive a giant equity stake, reportedly
00:53
calling the information just not true. On whether he'd get an equity stake, Altman said there are
00:58
no current plans.
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