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OpenAI employees cashed out $6.6B in stock sales last fall, earning up to $30M each: report

New York Post·Thomas Barrabi·22 days ago
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#chatgpt#ipo#openai#samaltman#stocks#shares
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Sam Altman’s OpenAI allowed employees to cash out a whopping $6.6 billion in sales of shares last October, according to a report. More than 600 current and former workers participated and were allowed to sell up to $30 million in shares each as part of a financing round, the Wall Street Journal reported Monday, citing people familiar with the matter. OpenAI allowed employees to sell up to $30M worth of shares each. AFP via Getty Images About 75 employees maxed out their sales and received the full $30 million, the report said. OpenAI bars employees from selling shares within their first two years of employment. The employee share sale followed a period of massive growth at the San Francisco-based company, which launched ChatGPT in late 2022. The company previously barred workers from selling more than $10 million in shares at a time in its tender offers, but tripled the cap to $30 million last year due to surging demand from outside investors, according to the Journal.…

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