Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

OpenAI's Sam Altman Has An Estimated $2 Billion Net Worth — And Much Of It Doesn't Come From AI

Published 02/03/2024, 18:48
Updated 02/03/2024, 20:10
© Reuters.  OpenAI's Sam Altman Has An Estimated $2 Billion Net Worth — And Much Of It Doesn't Come From AI

Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.

While Sam Altman, the CEO of OpenAI, has become a prominent figure in the artificial intelligence sector, much of his estimated wealth isn't rooted in the AI company he helms.

Despite OpenAI's recent $86 billion valuation, Altman's fortune, estimated to be at least $2 billion by the Bloomberg Billionaires Index, does not include any stake in OpenAI, as he has stated he does not own equity in the company.

Altman's wealth primarily stems from his investments in venture capital funds and startups, including a significant share in Reddit, which is on the brink of an IPO, potentially valuing the company at up to $6.5 billion, reported Bloomberg.

Altman's investment portfolio is diverse, with $1.2 billion in Hydrazine Capital and $434 million in Apollo Projects, focusing on ambitious "moonshots."

“It’s a lot. I basically just took all my liquid net worth and put it into these two companies,” Altman told the MIT Technology Review last year.

Also Read: Sam Altman Reveals His Go-To App — And, Surprisingly, It's Not ChatGPT

The billionaire's significant stake in Reddit, alongside investments in companies like Helion Energy Inc. and Retro Biosciences, highlights his deep financial involvement in the tech ecosystem. His early days at startup incubator Y Combinator (YC), where he served as president and backed numerous successful startups, laid the foundation for his influential career in technology.

Despite his departure from YC to lead OpenAI, Altman has maintained that he does not benefit financially from the company, emphasizing his commitment to AI's broader impact over personal gain.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Now Read: Elon Musk Cut Off OpenAI's Access To Twitter's Data, Report Reveals. Here's Why.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.