{"id":47090,"date":"2025-05-05T23:45:08","date_gmt":"2025-05-05T23:45:08","guid":{"rendered":"https:\/\/sasquatchnewsonline.com\/?p=47090"},"modified":"2025-05-05T23:45:08","modified_gmt":"2025-05-05T23:45:08","slug":"openai-drops-for-profit-plans-in-major-victory-for-elon-musk","status":"publish","type":"post","link":"https:\/\/sasquatchnewsonline.com\/?p=47090","title":{"rendered":"OpenAI Drops For-Profit Plans in Major Victory for Elon Musk"},"content":{"rendered":"

\"\"<\/p>\n

\"\"
Sam Altman \/ Ted Talk<\/figcaption><\/figure>\n

OpenAI has abandoned plans<\/a> to restructure as a for-profit entity in a major victory for Elon Musk.<\/p>\n

The decision means that the nonprofit board, the same one that briefly fired CEO Sam Altman in 2023, will stay in control of the organization.<\/p>\n

After Altman\u2019s sudden firing and return last year, the company announced plans to turn it from a public-benefit corporation to a for-profit entity.<\/p>\n

\n
<\/div>\n<\/div>\n

The decision represents a major victory for Elon Musk.<\/p>\n

Musk, who co-founded OpenAI with his own investment, strongly opposed the changes and filed lawsuits<\/a> to block it from happening.<\/p>\n

He also led a group of investors in trying to buy the company and wrestle control from Altman.<\/p>\n

\n

Group of Investors Led by Elon Musk Make a $97.4 BILLION Bid for OpenAI<\/a><\/p>\n<\/blockquote>\n

OpenAI now says it won\u2019t go through with the changes after holding talks with leaders and officials in California and Delaware.<\/p>\n

\u201cI think it just sets us up to be a more understandable structure,\u201d Altman said at a press conference.<\/p>\n

\u201cThis is maybe less eventful than people were expecting.\u201d<\/p>\n

\n

Wow.<\/p>\n

OpenAI couldn\u2019t convert to a for profit, will stay under non-profit control pic.twitter.com\/dZ3hUIFOog<\/a><\/p>\n

\u2014 Sheel Mohnot (@pitdesi) May 5, 2025<\/a><\/p>\n<\/blockquote>\n

Since its foundation in 2015, OpenAI has been controlled by a nonprofit board.<\/p>\n

When the company required more money, it created a for-profit arm that could take private investors, including Microsoft.<\/p>\n

However, investor profits were limited to 100 times what they put in and could even be cut to zero if the board decided it was necessary.<\/p>\n

\n

4 facts about our structure:<\/p>\n

-OpenAI will continue to be controlled by the current nonprofit<\/p>\n

-Our existing for-profit will become a Public Benefit Corporation<\/p>\n

-Nonprofit will control & be a significant owner of the PBC<\/p>\n

-Nonprofit & PBC will continue to have the same mission<\/p>\n

\u2014 OpenAI (@OpenAI) May 5, 2025<\/a><\/p>\n<\/blockquote>\n

With the new setup, the for-profit arm will return to being a public-benefit company, like some of OpenAI\u2019s rivals, including Musk\u2019s X.ai and Anthropic.<\/p>\n

\n

Scam Altman is at it again<\/p>\n

\u2014 gorklon rust (@elonmusk) April 10, 2025<\/a><\/p>\n<\/blockquote>\n

Altman added that the nonprofit could become one of the richest and most powerful organizations in the world.<\/p>\n

\u201cIt also means we can start deploying capital from the nonprofit very soon, which we\u2019re thrilled to do,\u201d he continued.<\/p>\n

\u201cWe\u2019ve got a long list of things that we think will be very impactful.\u201d<\/p>\n

\n
<\/div>\n<\/div>\n

The post OpenAI Drops For-Profit Plans in Major Victory for Elon Musk<\/a> appeared first on The Gateway Pundit<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Sam Altman \/ Ted Talk OpenAI has abandoned plans to restructure as a for-profit entity in a major<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-47090","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nOpenAI Drops For-Profit Plans in Major Victory for Elon Musk - Sasquatch News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sasquatchnewsonline.com\/?p=47090\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OpenAI Drops For-Profit Plans in Major Victory for Elon Musk - 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