{"id":14339,"date":"2024-12-18T21:26:47","date_gmt":"2024-12-18T21:26:47","guid":{"rendered":"https:\/\/imsfund.com\/?p=14339"},"modified":"2024-12-18T21:26:47","modified_gmt":"2024-12-18T21:26:47","slug":"some-openai-employees-are-about-to-become-millionaires","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2024\/12\/18\/some-openai-employees-are-about-to-become-millionaires\/","title":{"rendered":"Some OpenAI Employees Are About to Become Millionaires"},"content":{"rendered":"


\n<\/p>\n

\n

OpenAI has arranged a private stock sale for its staff with SoftBank Group that allows current and former employees to sell their stock to SoftBank at $210 per share, a source told Fortune<\/i><\/a> on Tuesday.<\/p>\n

The tender offer, or bid to purchase stock in a company, allows OpenAI employees who were issued stock more than two years ago (OpenAI was valued at nearly $20 billion<\/a>) to cash in on the ChatGPT-maker’s enormous growth. After a $6.6 billion fundraising round this past October, the company’s new valuation stands at $157 billion<\/a>, a nearly eightfold increase.<\/p>\n

According to Fortune<\/i>, SoftBank plans to buy up to $1.6 billion in stock from eligible shareholders. The tender offer’s $210 per share price reflects OpenAI’s $157 billion valuation.<\/p>\n

Current OpenAI employees will be allowed to sell as much as $10 million worth of shares. If the deal is oversubscribed with more people participating than the $1.6 billion limit allows, current OpenAI employees will take preference over former staff members.<\/p>\n

Related: <\/b>Is ChatGPT Search Better Than Google? I Tried the New Search Engine to Find Out.<\/a><\/p>\n

This means that former OpenAI employees may not be able to sell the full $10 million worth of stock under this tender offer. However, all current and former staff are guaranteed the ability to cash out at least $2 million worth of stock if they choose, under OpenAI’s rules.<\/p>\n

The shareholders have until December 24 to decide if they want to sell their shares, and how many.<\/p>\n

SoftBank first invested about $500 million<\/a> into OpenAI in October.<\/p>\n

OpenAI has over 2,000 employees, per Fortune. Data acquired by BI last week shows that salaries for 86 employees<\/a> at the company under specialty visas ranged from $145,000 to $530,000.<\/p>\n

Related:<\/b> ‘Pressure Cooker’: Why Millionaire Nvidia Employees Are Still Working Until 2 A.M.<\/a><\/p>\n<\/p><\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

OpenAI has arranged a private stock sale for its staff with SoftBank Group that allows current and former employees to sell their stock to SoftBank at $210 per share, a source told Fortune on Tuesday. The tender offer, or bid to purchase stock in a company, allows OpenAI employees who were issued stock more than […]<\/p>\n","protected":false},"author":5,"featured_media":14340,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/assets.entrepreneur.com\/content\/3x2\/2000\/1734544534-OpenAI-GettyImages-2188251582.jpg?format=pjeg&auto=webp","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-14339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/14339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=14339"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/14339\/revisions"}],"predecessor-version":[{"id":14341,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/14339\/revisions\/14341"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/14340"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=14339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=14339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=14339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}