Sam Altman's net worth crosses $2 billion, but OpenAI is not the reason - Hindustan Times

Sam Altman's billions in wealth are thanks to Reddit, not OpenAI

ByVaishnawi Sinha
Mar 03, 2024 05:00 PM IST

OpenAI CEO Sam Altman's net worth recently crossed the $2 billion mark, but his artificial intelligence firm makes little to no contribution to his wealth.

OpenAI founder and CEO Sam Altman's net worth has crossed the $2 billion mark, according to Bloomberg Billionaire Index. However, his stake in OpenAI is not the secret behind his wealth.

Sam Altman, US entrepreneur, investor, programmer, and founder and CEO of OpenAI(AFP)
Sam Altman, US entrepreneur, investor, programmer, and founder and CEO of OpenAI(AFP)

Altman, in fact, does not hold any stake in OpenAI, which was recently valued at $86 billion. Most of his wealth comes from a web of VC funds and startup investments, reported Bloomberg.

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It is expected that his net worth will grow massively in coming months, owing to the initial public offer of Reddit, where he is among the largest shareholders.

Despite being one of the core founders of the artificial intelligence startup, Altman has asserted multiple times that he does not hold any stake in OpenAI. The largest shareholders of the artificial intelligence startup is Satya Nadella-led Microsoft, which holds 49 percent equity in the firm.

Breaking down Sam Altman's net worth

The source of a large amount of his net worth continues to be opaque, but his most notable investment is $1.2 billion poured into a set of venture capital funds with variations on the name Hydrazine Capital, according to regulatory filings and Bloomberg estimates.

The OpenAI CEO has also invested an additional $434 million in funds at Apollo Projects, which backs “moonshots”, according to its official website. Further, entities affiliated with Altman own 8.7 percent stake in Reddit, which has filed to launch its public issue last week.

Apart from this, Altman has also invested in two lesser-known startups, earning a significant profits. He led a $500 million investment round in nuclear fusion company Helion Energy Inc. in 2021, and he invested $180 million in Retro Biosciences, which is working on lengthening the average human lifespan by 10 years.

(With inputs from Bloomberg)

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