Sam Altman Disputed Major Primary evidence Governance

Altman to Congress: 'I have no equity in OpenAI'

Made 2023-05-16 00:00:00+00 · Audience · Congress

// The promise

“I make no — I have no equity in OpenAI. … I get paid enough for health insurance. I have no equity in OpenAI.”

US Senate Judiciary Subcommittee testimony, 16 May 2023 ↗

Under oath before the Senate Judiciary Subcommittee, Altman stated he held no equity in OpenAI. The company has since publicly discussed restructuring proposals that would grant Altman a substantial equity stake worth billions of dollars, contradicting the testimony's framing of a disinterested CEO.

// What actually happened (2 sourced violations)

#1 2024-09-25 00:00:00+00 498 days later primary evidence

Reuters reports OpenAI is restructuring to a for-profit and that Altman would receive equity for the first time, potentially worth 7% of the company.

Reuters, 25 September 2024 ↗
#2 2024-10-04 00:00:00+00 507 days later secondary evidence

OpenAI confirms board is considering granting Altman equity in the restructured company.

Bloomberg, 4 October 2024 ↗

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