Sam Altman once owned some equity in OpenAI through Sequoia
Sam Altman sold his Sequoia fund equity in OpenAI amid its nonprofit to for-profit transition.

Sam Altman, OpenAI's CEO, recently clarified he previously owned equity in OpenAI via a Sequoia fund, equity that he no longer holds. Despite repeated claims of having no equity, Altman maintains a tiny stake through an YC fund, a small interest established before taking up his full-time role at OpenAI.
The complexity of OpenAI's structure is central to Altman not taking a direct equity interest, as its nonprofit board requires independent directors. This requirement influenced Altman’s decision to remain without equity to align with the charter's stipulations. Questions around his motives within OpenAI persist, especially as the firm transitions to a for-profit model.
Amid this transition, Elon Musk's lawsuit presents challenges by opposing the organization's shift from its nonprofit origins. OpenAI accuses Musk of initially wanting a for-profit direction, but Altman expresses skepticism towards actions taken by competitors like Meta, suggesting strategic maneuvers to undermine OpenAI's initiatives.