OpenAI’s Sam Altman rejected a surprise acquisition bid this week from a consortium led by DOGE co-chief Elon Musk, who had offered nearly $100 billion to acquire full control of the firm. Musk helped co‐found OpenAI before departing in 2018.
Altman responded with a brief post on X, cheekily countering that he would be willing to purchase the social network from Musk instead. Although the nonprofit board of OpenAI has ultimate say on such a transaction, Altman’s quick refusal underscored what he describes as the company’s continued commitment to its original purpose: ensuring that AI development serves humanity rather than purely profit‐driven interests.
Critics of OpenAI’s leadership are pointing to Altman’s own plans to restructure the organization into a private, for‐profit entity—raising questions about whether he may be “selling it to himself.” The nonprofit controls OpenAI’s for‐profit arm, and Altman sits on both sides of the table as CEO of the for‐profit division and a member of the nonprofit board.
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Some observers allege that the valuation under discussion, reported at around $40 billion, is far below other estimates that peg the company’s worth at $150 billion or higher. An argument can be made that this discrepancy may signal a conflict of interest, with Altman leading both the seller (the nonprofit) and the buyer (the proposed new for‐profit corporation).
AI safety experts who left after a high‐profile boardroom dispute in late 2023 warn that a pivot to purely commercial goals could overshadow responsible research. Multiple employees have cited concerns that the relentless drive for competitiveness—by both Musk and Altman—might sacrifice important safeguards meant to ensure AI systems do not undermine societal well‐being.
On the other hand, Musk’s critics argue that his recent $97.4 billion offer may be less about altruism and more about consolidating power and influence in an industry he views as essential to humanity’s future. With questions swirling about his capacity to lead yet another major enterprise, it remains unclear whether the Musk camp is prepared to raise its bid—or if the offer was mostly symbolic.
Information for this story was found via BBC and the sources and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
One Response
good for the rejection.. Musk just wants to try to control the world. People should stop using X.. reduce use of Amazon as for FB no respect for privacy. So people can win if they decide to ban their personal use of these tech companies all because of Trump …and the greedy tech on the west coast