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Business News/ Companies / People/  Sam Altman crosses $2 billion net worth and it's not because of OpenAI's success. Here's what happened
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Sam Altman crosses $2 billion net worth and it's not because of OpenAI's success. Here's what happened

OpenAI CEO Sam Altman's net worth has made new strides crossing USD 2 billion mark, with no contribution from the company's success.

From AI Leader to Multi-Billionaire: Sam Altman's Wealth Soars, But Not from OpenAIPremium
From AI Leader to Multi-Billionaire: Sam Altman's Wealth Soars, But Not from OpenAI

OpenAI founder and CEO Sam Altman, a famous personality in the field of artificial intelligence, has recently witnessed his net worth reach the $2 billion mark, according to the Bloomberg Billionaire Index. However, his company's success, has no contribution to Altman's fortune, despite him being at the helm of the popular AI research firm.

Also Read | Sam Altman addresses ‘nervousness’ around Artificial Intelligence: ‘It's on us to…'

His wealth is expected to increase with the upcoming initial public offering of Reddit, where he is one of the largest shareholders.

Also Read | Sam Altman announces GPT-4 Turbo. A look at what's changed with OpenAI's latest language model

While OpenAI recently received a valuation of USD 86 billion, Altman himself does not hold any shares in the company. According to Bloomberg's estimate, his wealth primarily derives from investments in various venture capital funds and startups.

Also Read | OpenAI CEO Sam Altman is set to make a ‘killing’ from Reddit IPO

The source of a significant portion of the 38-year-old founder's net worth remains somewhat unclear, but his most significant investment appears to be a USD 1.2 billion contribution to several venture capital funds with variations of the name "Hydrazine Capital." Additionally, he has invested USD 434 million in the "moonshot" focused Apollo Projects fund.,

Also Read | Did CEO Sam Altman mislead OpenAI investors? US SEC investigating, says report

Furthermore, Altman's involvement in Reddit, where he holds an 8.7 per cent stake through affiliated entities, is expected to significantly impact his net worth in the near future, according to the report.

Also Read | Elon Musk Sues OpenAI, Sam Altman for Breach of Contract

Beyond these prominent investments, Altman has also made significant contributions to lesser-known startups with potentially revolutionary impacts. He led a $500 million funding round for Helion Energy, a company focusing on nuclear fusion technology, and invested $180 million in Retro Biosciences, a startup aiming to extend human lifespan by 10 years, as per Hindustan Times report.

 

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Published: 03 Mar 2024, 07:23 AM IST
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