OpenAI president Greg Brockman disclosed Monday that his equity stake in the company is valued at almost $30 billion, making him one of its largest individual shareholders. He also said he put none of his own money into the startup.
The disclosure came during Brockman's opening day on the witness stand in the lawsuit Elon Musk has filed against OpenAI, Sam Altman, and Brockman
Bloomberg / Getty Images
OpenAI president Greg Brockman disclosed Monday that his equity stake in the company is valued at almost $30 billion, making him one of its largest individual shareholders. He also said he put none of his own money into the startup.
The disclosure came Monday during Brockman's opening day on the witness stand in the lawsuit Elon Musk has filed against OpenAI, Sam Altman, and Brockman. Bloomberg reported that when pressed, Brockman acknowledged a valuation above $20 billion and affirmed it was "closer to $30 billion."
Musk's attorney asked whether a stake of that size represents a breach of Brockman's duty to humanity. Brockman said no, arguing that OpenAI has "created the most well-resourced nonprofit in history."
OpenAI said Monday that its nonprofit arm's stake in the company is now worth about $200 billion. After completing its for-profit restructuring in October, OpenAI said the nonprofit foundation received a 26% equity stake, then valued at roughly $130 billion.
Central to Musk's case is the allegation that Brockman and Altman turned away from OpenAI's charitable mission for personal financial gain. Among the remedies Musk is pursuing is the ouster of both men from their current positions. Altman, for his part, has stated publicly that he holds no ownership stake in OpenAI.
Throughout the proceedings, OpenAI has maintained that the real purpose of Musk's lawsuit is to damage a rival in the AI industry. The company has further argued that Musk was himself an advocate for converting OpenAI into a for-profit structure during its formative period.
The trial has been building toward Brockman's testimony since its opening week, when Musk took the stand and testified over three days about his role in founding OpenAI in 2015. He described donating tens of millions of dollars on the understanding that the organization would remain a nonprofit devoted to safe AI development. "I could have started it as a for profit and I chose not to," Musk said. He accused Altman and Brockman of trying to "steal a charity."
A court filing late Sunday revealed that before the trial, Musk texted Brockman to discuss a possible settlement. When Brockman suggested both sides drop their claims, Musk replied, "By the end of this week, you and Sam will be the most hated men in America. If you insist, so it will be," according to CNBC. OpenAI's lawyers want this exchange included as evidence, arguing it shows Musk's real goal is to hurt a business rival, not to address a real complaint.
Musk filed the case in 2024, focusing on four main claims: unjust enrichment, fraud, constructive fraud, and breach of charitable trust. Judge Yvonne Gonzalez Rogers is overseeing the case in the U.S. District Court for the Northern District of California. Private investors now value OpenAI at over $850 billion.
Join 500,000+ readers who start their day with Quartz.
By subscribing, you agree to our Terms of Service and Privacy Policy.