Published 09/25/2024 8:51:11 p.m.

OpenAI to remove non-profit control and give Sam Altman equity

OpenAI is considering giving CEO Sam Altman a 7% equity stake and restructuring to a for-profit business, marking his first ownership in the company, according to sources.
Altman denied media reports about plans for a "giant equity stake," emphasizing that discussions on equity are ongoing and investors have raised concerns about his lack of ownership.
The board is contemplating the transformation into a public benefit corporation, balancing profit generation and societal impact, but no timeline has been established yet.

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The Independent

OpenAI ditches non-profit controls as top execs leave ChatGPT creator

Co-founder Elon Musk claims move is ‘illegal’ and compares CEO Sam Altman to Game of Thrones villain

09/26/2024 10:44:03 a.m.·London, United Kingdom

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Reuters

OpenAI to remove non-profit control and give Sam Altman equity

ChatGPT-maker OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation that will no longer be controlled by its non-profit board, people familiar with the matter told Reuters, in a move that will make the company more attractive to investors.

09/25/2024 8:51:11 p.m.·United Kingdom

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Hindustan Times

OpenAI discusses giving Sam Altman a 7% stake and shift to a for-profit model

OpenAI is discussing giving Chief Executive Officer Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business

09/27/2024 1:48:46 a.m.·New Delhi, India

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The Washington Post

OpenAI Rocked by Executive Exits in Midst of Fundraising Effort

OpenAI’s CTO Mira Murati and two other executives announced their departures amidst the company's push to secure billions in funding for AI development.

09/26/2024 2:19:20 p.m.

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South China Morning Post

Sam Altman could get 7% stake if OpenAI shifts to for-profit model

OpenAI is considering these changes against the backdrop of an exodus of senior managers, including Mira Murati.

09/26/2024 1:59:46 a.m.·Hong Kong

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Channel News Asia

OpenAI to remove non-profit control and give Sam Altman equity, sources say

SAN FRANCISCO : ChatGPT-maker OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation that will no longer be controlled by its non-profit board, people familiar with the matter told Reuters, in a move that will make the company more attractive to investors.The Op

09/25/2024 8:16:27 p.m.·Singapore

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