According to a report by The Information, OpenAI CEO Sam Altman is planning to restructure the company by 2024 in a way that would give him and other top employees more control and potentially greater wealth. The restructuring would involve converting OpenAI from a nonprofit to a for-profit entity, allowing Altman and others to cash out their equity stakes. This move could make Altman and other early employees billionaires if OpenAI’s valuation continues to soar. The report suggests that Altman is seeking more control over OpenAI’s direction and decision-making, as the current nonprofit structure limits his authority. However, the restructuring could also raise concerns about OpenAI’s commitment to its original mission of developing AI for the benefit of humanity rather than profit. Altman has not confirmed the plans, but the report highlights the tensions and challenges faced by AI companies as they navigate the rapidly evolving landscape of artificial intelligence.
Source: https://www.businessinsider.com/sam-altman-openai-restructure-richer-control-2024-9