I hold no equity in OpenAI
Sam Altman — CEO, OpenAI, US Senate Judiciary Subcommittee Hearing
“I have no equity in OpenAI. I make enough money for health insurance and that's it. I do this because I love the work.”
OpenAI Corporate Restructuring Documents — internal governance filings, Corporate transition plan leaked to Reuters / Bloomberg
“Transitioning OpenAI from a non-profit-controlled entity into a Delaware public benefit corporation, creating an equity stake for CEO Sam Altman valued at tens of billions of dollars.”
The Split:Altman earned widespread praise from senators by testifying that he held zero equity and did it purely for the love of the work. Within eighteen months, plans unsealed to convert the entity into a for-profit Delaware corporation granting him an immense equity stake.
'I hold no equity' is an affordable line for someone who controls the corporate machinery that can issue the equity whenever they choose.