Elon Musk calls on California and Delaware to force auction of OpenAI stake: Financial TImes
- Elon Musk's lawyer has requested California and Delaware attorney generals to facilitate an auction of OpenAI's stake to determine its fair value during restructuring, according to sources familiar with the matter.
- Musk's attorney, Marc Toberoff, argues that competitive bidding is necessary to protect the public's beneficial interest in OpenAI's charitable assets.
- OpenAI plans to create a public benefit corporation to raise more capital, as stated in a late December outline by the company.
- Delaware Attorney General Kathy Jennings is reviewing OpenAI's proposed changes and has submitted an amicus brief regarding the case.
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20 Articles
Musk Asks State AGs to Auction off OpenAI Stake in Nonprofit Restructuring, Sources Say
A lawyer for billionaire Elon Musk has asked attorney generals in the states of California and Delaware to push OpenAI to auction a major stake in its business to decide fair value of its charitable asset during its corporate restructuring, sources familiar with the matter told Reuters on Thursday.
Elon Musk Pushes California, Delaware Attorneys-General To Force OpenAI Stake Auction Amid Bitter Legal Battle With Sam Altman - Meta Platforms (NASDAQ:META), MONARCH STAFFING INC by Monarch Staffing, Inc. (OTC:MSTF)
Elon Musk has urged California and Delaware attorneys-general to mandate an auction of OpenAI's stake to ensure maximum value for its non-profit assets, amid a legal dispute over the company's transition to a for-profit entity.
Musk asks state AGs to auction off OpenAI stake in nonprofit restructuring, sources say
A lawyer for billionaire Elon Musk has asked attorney generals in the states of California and Delaware to push OpenAI to auction a major stake in its business to decide fair value of its charitable asset during its corporate restructuring, sources familiar with the matter told Reuters on Thursday. Musk'
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