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By Emma Marsden
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The CEO and co-founder of OpenAI and a prominent figure in the tech world, Sam Altman, has seen his net worth rise significantly this year, reaching an estimated $2 billion. However, that figure doesn't include his holding in OpenAI.
Altman's role at OpenAI, developer of the popular artificial intelligence (AI) product ChatGPT, has not been the primary driver of his 2024 wealth increase. This milestone is attributed to several key developments and investments that have bolstered his financial portfolio.
One major factor in the growth of his net worth is Altman's significant investments in various startups and companies through his venture funds, including Hydrazine Capital and Apollo Projects, which have diversified his assets and enhanced his standing as a savvy investor.
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As reported by Newsweek in July, Altman's portfolio includes notable names like Airbnb, Stripe, and Retro Biosciences. He also serves as chairman of Oklo Inc. In addition, as one of its largest shareholders, Altman's investment in Reddit significantly contributed to his financial leap.
Fortune reported in October that Altman owns 12.2 million shares of Reddit with the company's share price now sitting at $114 a share, which makes his stake in Reddit worth about $1.4 billion.
Newsweek has contacted Altman via email for comment on Friday.
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The tech billionaire's backing of innovative startups like Helion Energy (focused on nuclear fusion) and Retro Biosciences (targeting life extension) reflects his commitment to companies focused on transformative and clean energy technologies.
Altman's ability to balance leadership in technological innovation with a strategic investment approach has solidified his position as a billionaire and a transformative figure in tech with a proven track record.
As previously reported by Newsweek, Altman joined Y Combinator and became its president in 2014. Under his leadership, Y Combinator funded and nurtured numerous successful startups, including Airbnb, Dropbox, and Stripe. Altman's tenure saw the combined valuation of Y Combinator companies surpass $65 billion.
Bloomberg estimates OpenAI to be worth about $29 billion. OpenAI raised $1 billion from Microsoft in 2019 and has seen substantial investments and revenue growth since the launch of ChatGPT.
Last year, Altman was briefly ousted from his position as CEO by OpenAI's corporate board, before being reinstated less than a week later. The board said Altman had allegedly provided inaccurate information about the company's safety processes "on multiple occasions."
Open AI's co-founder, Elon Musk, filed a lawsuit against OpenAI, Altman, and company President Greg Brockman in February, alleging that the organization had strayed from its original nonprofit mission by prioritizing profits and forming a partnership with Microsoft.
Bloomberg reported in September that there are plans to rethink OpenAI's nonprofit status, "an ongoing fundraising that may almost double its valuation," and discussions to give Chief Executive Altman a stake in equity.
"If the fundraising—which people familiar with the matter say values OpenAI at $150 billion—succeeds, and Altman ends up with a 7% stake, his fortune may soar by more than $10 billion, according to the Bloomberg Billionaires Index. That would land him among the world's very richest people," Bloomberg reported.
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