OpenAI’s Sam Altman Receives $76,001 Compensation Amidst Billion-Dollar Valuation

OpenAI’s tax filings for 2023 revealed that CEO Sam Altman earned $76,001 in compensation for leading what has become one of the world’s most valuable startups. This amount represents a 3.4% pay increase from 2022 when he earned $73,546.

For comparison, the median household income in San Francisco County—where Altman owns a $27 million mansion—is $126,730, according to the U.S. Census Bureau. In 2023, the national average wage index stood at approximately $66,621, based on data from the Social Security Administration.

Altman has previously noted that his compensation at OpenAI is modest. In May 2023, during a hearing with a Senate judiciary subcommittee, he mentioned that his pay was sufficient to cover health insurance and that he held no equity in the company.

However, Altman’s reported earnings do not reflect the entirety of his wealth. By March 2024, Altman’s net worth was estimated to be at least $2 billion, excluding any potential stake in OpenAI. This estimate includes $1.2 billion invested in various venture capital funds and other assets. OpenAI declined to comment on the details of Altman’s finances.

The tax documents also highlighted that Ilya Sutskever, a co-founder of OpenAI, and Chris Clark, listed as the organization’s secretary/treasurer, were the highest-paid executives at the company, receiving $347,354 and $322,201, respectively. Both Sutskever and Clark departed from OpenAI in May 2024, a few months after Altman’s brief and controversial ousting in November 2023.

These filings do not fully capture the current financial state of OpenAI. Earlier this year, the company secured a historic $6.6 billion in funding, elevating its valuation to $157 billion. This major funding round, spearheaded by Thrive Capital, included discussions about Altman potentially acquiring a 7% equity stake in the company if OpenAI transitions to a traditional for-profit structure.

Projections from September suggested that such a stake could increase Altman’s wealth by over $10 billion, further cementing his position in the tech industry’s elite.

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