OpenAI Chair Bret Taylor revealed on Thursday that the board has discussed the possibility of offering CEO Sam Altman equity as part of his compensation package, though no final decision has been made.
In a statement, Taylor clarified that no specific amounts have been considered yet for Altman’s potential equity stake.
This follows a report from Reuters on Wednesday, which stated that OpenAI is exploring plans to restructure its core business into a for-profit benefit corporation, where Altman could receive equity for the first time.
Sam Altman, who co-founded OpenAI in 2015, has never taken a stake in the company.
Already a billionaire from various startup investments, Altman previously explained that he chose not to hold shares because the board needed to maintain a majority of directors with no financial interest in the company.
On Wednesday, Chief Technology Officer Mira Murati and senior research leaders Barret Zoph and Bob McGrew suddenly announced their departures.
However, speaking at a conference in Italy the following day, Altman dismissed any speculation that these exits were tied to the company’s ongoing restructuring plans.
OpenAI is in discussions with investors to raise $6.5 billion, with potential backing from venture capital firms like Thrive Capital and Khosla Ventures, as well as major companies including Microsoft, Nvidia, and Apple.
According to Reuters, the company’s potential valuation of $150 billion hinges on the successful completion of a corporate restructure.
This would include removing the current cap on investor returns, opening the door for greater profitability.
The planned for-profit entity would operate independently of the non-profit board that currently oversees OpenAI, which was responsible for Altman’s temporary ousting from the company last November.
However, the non-profit will remain in existence and will retain a minority stake in the new for-profit organization, according to sources.