Sam Altman does not own a single share of OpenAI despite leading the company toward a potential $850 billion initial public offering.
This discrepancy has sparked private discussions among some OpenAI shareholders about whether Altman should remain CEO through the IPO process, according to The Wall Street Journal investigation reported by Habr. Shareholders are concerned that Altman’s personal investment activities, particularly in startups that later do business with OpenAI, create conflicts of interest that benefit him directly rather than the company.
Altman’s annual salary at OpenAI in 2024 was $66,000, but his real wealth comes from a portfolio of hundreds of startups accumulated during his tenure at Y Combinator. Several of these companies have entered into agreements with OpenAI, allowing Altman to profit personally from deals he helps facilitate.
Altman’s $375 million investment in Helion created a personal stake in a potential OpenAI partnership
Altman has held a stake in Helion, a nuclear fusion startup, since 2014 and invested $375 million in it in 2021 — his largest personal investment to date. In recent months, he proposed that OpenAI join a new $500 million funding round for Helion at a $35 billion valuation, more than six times the company’s previous $5.4 billion round.
OpenAI declined the investment but instead signed a long-term agreement to purchase up to 50 gigawatts of electricity from Helion by 2035. Helion is now using this contract to strengthen its position in negotiations with other investors, thereby increasing its valuation and the value of Altman’s personal stake.
Some OpenAI employees reportedly avoided internal Slack discussions about the Helion deal, fearing that their messages could be discovered in future litigation, according to the Journal’s sources.
Similar concerns arise over Altman’s ties to Stoke Space and a prior precedent of founder-led conflicts
Last summer, Altman proposed that OpenAI acquire or take a controlling stake in Stoke Space, a rocket manufacturer competing with SpaceX. It was later revealed that Altman’s family office, Hydrazine, had already made an investment in Stoke through personal channels — a connection that had not been previously disclosed.
This pattern echoes earlier concerns about founder influence in tech companies, recalling how Elon Musk’s dual leadership of Tesla and SolarCity led to shareholder lawsuits over alleged self-dealing in 2016, though no legal action has been taken in Altman’s case.
Does Sam Altman receive equity in OpenAI?
No, Altman does not hold any equity stake in OpenAI, despite serving as its CEO.
What is the value of the electricity deal OpenAI signed with Helion?
OpenAI agreed to purchase up to 50 gigawatts of electricity from Helion by 2035, though the financial value of the contract was not disclosed in the source.