Sam Altman's net worth crosses $2 billion, but OpenAI is not the reason

Sam Altman, US entrepreneur, investor, programmer, and founder and CEO of OpenAI

OpenAI founder and CEO Sam Altman, who is the face of the most popular artificial intelligence startup in the current landscape, saw his net worth cross the $2 billion mark recently, according to Bloomberg Billionaire Index. However, the shares from OpenAI are not the secret behind his wealth.

While Altman is known for his contributions to AI and his vast entrepreneurship skills, his wealth expands beyond the success of his startup OpenAI. Bloomberg Index valued his net worth for the first time recently, estimating his total wealth at around over $2 billion.

However, Sam Altman does not hold any stake in his company OpenAI, which was recently valued at $86 billion. Most of his traceable wealth comes from a web of VC funds and startup investments, reported Bloomberg.

It is expected that his net worth will massively grow in the coming months, owing to the initial public offer of Reddit, where he is among one of the largest shareholders.

Despite being one of the core founders of the artificial intelligence startup, Altman has asserted multiple times that he does not hold any stake in OpenAI. The largest shareholders of the artificial intelligence startup is Satya Nadella-led Microsoft, which holds 49 percent equity in the firm.

Breaking down Sam Altman’s net worth

The source of a large amount of his net worth continues to be opaque, but his most notable investment is $1.2 billion poured into a set of venture capital funds with variations on the name Hydrazine Capital, according to regulatory filings and Bloomberg estimates.

The OpenAI CEO has also invested an additional $434 million in funds at Apollo Projects, which backs “moonshots”, according to its official website. Further, entities affiliated with Altman own 8.7 percent stake in Reddit, which has filed to launch its public issue last week.

Apart from this, Altman has also invested in two lesser-known startups, earning a significant profits. He led a $500 million investment round in nuclear fusion company Helion Energy Inc. in 2021, and he invested $180 million in Retro Biosciences, which is working on lengthening the average human lifespan by 10 years.

(With inputs from Bloomberg)

Read more news like this on HindustanTimes.com