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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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Lean Left

Elon Musk Wants OpenAI to Be Forced Into Selling a Portion of Itself

Presumably to himself or another related party.

·New York, United States
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Channel News AsiaChannel News Asia
+5 Reposted by 5 other sources
Center

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'

·Singapore, Singapore
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Financial Times broke the news in London, United Kingdom on Thursday, January 9, 2025.
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