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by iandanforth 944 days ago
As noted in the release: "The majority of the board is independent, and the independent directors do not hold equity in OpenAI."
1 comments
nonfamous 944 days ago
In fact, I believe Altman was the only member of the board that held equity in OpenAI. There was some vague reference to a “previous VC arrangement” in the FAQ.
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samspenc 944 days ago
Sam Altman had no equity in OpenAI https://www.cnbc.com/2023/03/24/openai-ceo-sam-altman-didnt-...

He confirmed it verbally as well in his May 2023 hearing in Congress https://twitter.com/thesamparr/status/1658554712151433219?la...

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nonfamous 944 days ago
From https://openai.com/our-structure :

> Even OpenAI’s CEO, Sam Altman, does not hold equity directly. His only interest is indirectly through a Y Combinator investment fund that made a small investment in OpenAI before he was full-time.

That word “directly” seems to be relevant here.

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