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OpenAI To Remove Non-Profit Control and Give Sam Altman Equity

OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation that will no longer be controlled by its non-profit board. "Chief executive Sam Altman will also receive equity for the first time in the for-profit company, which could be worth $150 billion after the...

OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation that will no longer be controlled by its non-profit board. "Chief executive Sam Altman will also receive equity for the first time in the for-profit company, which could be worth $150 billion after the restructuring as it also tries to remove the cap on returns for investors," reports Reuters. [...] The details of the proposed corporate structure, first reported by Reuters, highlight significant governance changes happening behind the scenes at one of the most important AI companies.

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