Sam Altman told OpenAI employees he doesn't expect a 'giant equity stake'
As OpenAI considers a for-profit structure, chief executive Sam Altman has reportedly told employees he doesn’t plan to get a “giant equity stake” in the company.
Altman told employees it’s “just not true” that he will receive high equity during an all-hands meeting on Thursday, CNBC (CMCSA) reported, citing an unnamed person familiar with the matter.
During the meeting with Altman and Sarah Friar, OpenAI’s chief financial officer, both leaders reportedly told employees that the artificial intelligence company’s investors are concerned over Altman not having equity. The meeting with employees was held after OpenAI’s board decided it would consider restructuring to a for-profit model, another unnamed person told CNBC. They added that if OpenAI becomes for-profit, its non-profit business will be a separate entity.
“The board has had discussions about whether it would be beneficial to the company and our mission to have Sam be compensated with equity, but no specific figures have been discussed nor have any decisions been made,” Bret Taylor, OpenAI’s chairman, told CNBC.
Altman reportedly called a report that he would receive a 7% stake in the company “ludicrous,” and said it was too high, according to The Information. If Altman received a 7% stake, it would be worth around $10.5 billion of equity, based on OpenAI’s reported $150 billion valuation.
The AI company is reportedly interested in changing its business into a benefit corporation, or a for-profit corporation committed making a positive impact.
Meanwhile, chief technology officer Mira Murati announced on Wednesday that she was leaving the company. Murati, who spent six-and-a-half years at OpenAI, said she “made the difficult decision” to leave, and that she wants “to create the time and space to do my own exploration.” After OpenAI chief executive Sam Altman was briefly ousted in November, Murati served as interim leader of the company.
Hours after Murati’s announcement, OpenAI chief research officer Bob McGrew and vice president of research Barret Zoph also announced their resignations from the company.
