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OpenAI CEO’s Investments Benefit From Ties to His Company
IBL News | New York
Sam Altman, CEO of OpenAI, has improved the performance of his personal investments through the connections his company has made.
As a result, a growing number of his tech companies have entered into business partnerships with OpenAI.
Now, ahead of OpenAI’s planned IPO, these investments are receiving scrutiny. Last month, the House Oversight Committee launched a probe into Sam Altman’s potential conflicts.
In addition, several attorneys general called for a review by the Securities and Exchange Commission.
The Wall Street Journal identified dozens of his investments and analyzed the impact of some deals on his wealth.
Sam Altman has roughly 400 active startup investments. Many are in sectors that are closely tied to the AI boom, including software, biotechnology, and energy.
And at least 10 of the companies Altman has personally invested in also have, or have recently discussed, a business deal with OpenAI, the Wall Street Journal stated.
- OpenAI entered into research partnerships with at least two biotechnology companies after Altman invested in them. His stake in life-extension startup called Retro Biosciences was worth $258 million as of December.
- Altman has been an investor in the chip-maker Cerebras for almost a decade. OpenAI recently agreed to buy its chips. The deal helped Cerebras mount a wildly successful IPO, boosting Altman’s stake from December by more than sixfold.
- One of Altman’s biggest investments is in Helion, a nuclear-fusion startup. He invested $375 million in 2021. His stake in Helion more than doubled to at least $4.1 billion. Altman’s efforts to partner OpenAI with Helion have generated controversy inside the company.
Chief executives of public companies are typically discouraged by their board of directors from taking large stakes in outside ventures.
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