Sam Altman plans to upend OpenAI's nonprofit model -- as another key executive exits

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Sam Altman plans to upend OpenAI's nonprofit model -- as another key executive exits
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OpenAI is planning to restructure its business into a for-profit benefit corporation and give equity to Altman for the first time, the company said.

OpenAI is planning to restructure its business into a for-profit benefit corporation and give equity to CEO Sam Altman for the first time, the ChatGPT maker confirmed on Wednesday.

The valuation of Altman’s stake was not immediately clear. The 38-year-old was worth at least $2 billion as of May, according to the Bloomberg Billionaires Index. Murati had worked closely with Altman during nearly seven years at the Microsoft-backed firm. She briefly served as the company’s interim boss when he was forced out

Murati added that she was “stepping away because I want to create the time and space to do my own exploration. For now, my primary focus is doing everything in my power to ensure a smooth transition, maintaining the momentum we’ve built.”“It’s hard to overstate how much Mira has meant to OpenAI, our mission, and to us all personally,” Altman said.

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