Elon Musk claims he was offered shares in OpenAI, but declined to take shares in the company he co-founded.
Former Cochair’s Dilemma
Elon Musk reveals that he was offered shares in OpenAI at “various points” during his tenure as cochair alongside Sam Altman, back when the AI company was established in December 2015. Despite his influential role and a generous pledge of $1 billion to the project, Musk declined the shares, citing ethical and potentially illegal concerns.
Nonprofit Mission and Legal Ambiguity
OpenAI emerged as a nonprofit organization with a mission to develop artificial intelligence for the greater benefit of humanity. Musk, in response to a user’s inquiry about his founding donation, expressed uncertainty about the legal structure of the company. However, details such as when the shares were offered, their quantity, and the source remain undisclosed by the billionaire.
Recent reports from The New York Times indicate OpenAI’s valuation at around $80 billion following a deal that allowed staff to cash out their shares. Despite this financial milestone, representatives for OpenAI have yet to respond to inquiries from Business Insider regarding Musk’s claims, made outside of regular working hours.
Musk’s Departure and Disagreements
In 2018, Musk resigned from OpenAI’s board, citing a need to “eliminate potential future conflict” due to Tesla’s increased focus on AI. Later, he asserted that his departure was fueled by disagreements with the OpenAI team rather than business conflicts. The billionaire has maintained a critical stance toward OpenAI, particularly emphasizing his concerns about the company’s multibillion-dollar partnership with Microsoft. Musk contends that the nonprofit has shifted its focus to “maximum-profit,” contrary to his original intentions.
Competing Ventures
In a notable turn of events, Musk launched his own AI company last year, unveiling a chatbot that directly competes with OpenAI’s ChatGPT. This move underscores the ongoing dynamics between Musk and his former AI endeavor, OpenAI, as both entities pursue advancements in artificial intelligence.
