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Sam Altman has at least $2.8 billion in investments: report

Sam Altman and his venture capital funds have reportedly invested in more than 400 companies.

The Wall Street Journal reported that Altman is one of Silicon Valley’s most prolific individual investors, with holdings worth more than $2.8 billion as of early this year.

The CEO has no stake in OpenAI, valued at $86 billion. He reportedly earns an annual salary of around $65,000. His net worth, however, recently crossed the $2 billion mark, Bloomberg reported.

This is largely due to its extensive investment portfolio, which includes major companies such as Reddit and Stripe.

The Journal reports that Altman also drew on a line of credit from his bank, JPMorgan Chase, which allows him to invest hundreds of millions of dollars in private startups.

The Journal report says several of the startups Altman has invested money in also do business with OpenAI, raising questions about potential conflicts for the AI ​​company’s CEO.

In one recent example, OpenAI announced a partnership with Reddit, which sent the company’s shares up more than 10% and increased Altman’s personal stake in Reddit by $69 million.

In a blog post about the partnership, OpenAI said Altman was not involved in the deal, which was led by the company’s COO and approved by its independent board of directors.

Representatives for Altman did not immediately respond to a request for comment from Business Insider made outside of normal business hours.

Contacted by The Journal, a spokesperson for Altman declined to comment on any potential conflicts of interest between OpenAI and his personal investments.

Bret Taylor, chairman of the board of directors of OpenAI, told the outlet that Altman had “consistently followed policies and been transparent about his investments.”

“Sam is fully focused on his role as CEO. We carefully manage any potential conflicts and always put OpenAI and our mission first,” Taylor said.

Former OpenAI board member Helen Toner, who was instrumental in Altman’s brief ouster from OpenAI last November, recently accused the CEO of “withholding information” and “misrepresenting” what is happening. was passing.

In an episode of “The TED show on AI” Podcast, Toner claimed that Altman did not tell the board that he previously owned the OpenAI seed fund.

Taylor said in a statement to the podcast at the time: “We are disappointed that Ms. Toner continues to return to these issues. »

Reuters reported that it was documented in a March filing that the company changed the governance structure of its venture capital fund, so that Altman no longer had control of the fund.

businessinsider

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