OpenAI Board Unanimously Rejects Elon Musk's $97.4 Billion Buyout Offer
OpenAI officially dismisses Elon Musk's $97.4 billion proposal to buy its nonprofit parent, with the board declaring the offer is not a legitimate bid. The rejection escalates the ongoing legal and personal feud between Musk and CEO Sam Altman.
OpenAI unanimously rejects Elon Musk’s $97.4 billion proposal to purchase its nonprofit parent, with the company's attorney stating the offer is not a legitimate bid at all. The board determines that the much-publicized takeover attempt does not serve the best interests of OpenAI's mission. Chairman Bret Taylor firmly states that the artificial intelligence startup is not for sale, despite the massive financial figure presented by Musk's investor group.
The public rejection sparks a fiery online exchange between Musk and OpenAI CEO Sam Altman. Altman sarcastically offers to buy Musk's social media platform X for $9.74 billion, prompting Musk to respond with insults like "swindler" and "Scam Altman." This heated interaction highlights the deep personal and professional rivalry between the two men, who originally co-founded OpenAI together in 2015 as a nonprofit research lab before becoming bitter adversaries.
This dramatic takeover attempt occurs as OpenAI actively pursues a transition into a for-profit entity to capitalize on massive commercial demand. The company currently secures billions in investments from major backers like Microsoft and SoftBank, while Musk simultaneously funds his own competing AI startup called xAI. Furthermore, Musk is already engaged in an active lawsuit against OpenAI that aims to block this very shift to a for-profit structure, setting the stage for continued legal battles.