Sam Altman, the visionary creator of OpenAI and key figure behind the revolutionary ChatGPT, founded an Artificial Intelligence (AI) company with an estimated market value of around US$86 billion.
However, a surprising twist reveals that Altman does not have any ownership stake in the creation itself, according to information from The Semafor.
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In 2019, OpenAI underwent a significant transformation, incorporating the profitable entity OpenAI LP. At the time, Altman chose to give up any ownership stakes in the company.
OpenAI's story is remarkable, having started as a non-profit organization in 2015 with the financial support of Tesla's CEO, Elon Musk, which committed to investing US$1 billion in the initiative.
(Image: disclosure)
However, Musk expressed his dissatisfaction with OpenAI's progress, considering it “fatally behind” the advances in AI promoted by Google.
In 2018, Musk suggested that he would take control of OpenAI and run it personally, but the proposal was rejected by the company's team, including Sam Altman.
Such disagreement led Musk to step away from the organization, although he later resumed his commitment, providing US$100 million in public funding instead of the promised US$1 billion.
Altman, throughout this period, chose not to acquire shares in the company during its restructuring, a choice that surprised many.
However, the successful launch of ChatGPT, one of OpenAI's flagship products, likely contributed to alleviate investors' initial concerns regarding the lack of equity participation of Altman.
Today, OpenAI is a valuable entity, seeking to trade shares at a $29 billion valuation, more than double its 2021 value, as reported by The Wall Street Journal.
Although Altman does not hold an equity stake in the company, his vision and leadership have played a crucial role in positioning OpenAI as a leading pioneer in the field of AI.
