Greg Brockman defends $30 billion stake in OpenAI: ‘Blood, sweat and tears’

greg-brockman-defends-$30-billion-stake-in-openai:-‘blood,-sweat-and-tears’

Greg Brockman defends $30 billion stake in OpenAI: ‘Blood, sweat and tears’

Two days before THE Musk vs. Altman Lawsuit began, Elon Musk asked OpenAI co-founder and president Greg Brockman how to reach a settlement. When Brockman suggested both sides drop their claims, Musk responded: “By the end of this week, you and Sam [Altman] will be the most hated men in America. If you insist, so be it.

The message— which OpenAI’s lawyers made public on Sunday and which Judge Yvonne Gonzalez Rogers later refused to let the jury hear — underscores what may be Musk’s broader goal in this trial. He appears to be trying to not only convince jurors to potentially remove Brockman and CEO Sam Altman from power, but also to sow dirt on both men and harm OpenAI’s public image.

As Brockman took the stand on Monday, Musk’s lawyer, Steven Molo, quickly began questioning him about his compensation at OpenAI. Brockman revealed that his stake in OpenAI is currently worth more than $20 billion, and possibly as much as $30 billion. While Brockman initially promised to give $100,000 to OpenAI when it was founded, he said he ultimately never followed through.

Brockman has held several instrumental roles at OpenAI since co-founding the company in 2015. In the startup’s early days, she operated out of her apartment in San Francisco’s Mission District. Today he is deeply involved in refocus OpenAI on a few key productslike the Codex. Over the past year, Brockman has also given millions to super PACs promoting AI and President Trump, and already said this increase in political spending is linked to OpenAI’s founding mission to create artificial general intelligence that benefits all humanity.

In court on Monday, Molo tried to argue that Brockman and Altman essentially looted OpenAI’s original nonprofit, which Musk funded and helped create.

In its early days, OpenAI told investors and employees that its nonprofit mission took priority over generating profits. Brockman testified that his financial interests are still, to this day, secondary to OpenAI’s nonprofit mission.

When OpenAI created its for-profit arm in 2019, which received assets from the nonprofit, Brockman testified that he received a significant stake in the new entity. Early in OpenAI’s history, Brockman spoke of his desire to become a billionaire, wwriting in his personal journal: “Financially, what will get me to $1 billion?

On Monday, Molo pressed Brockman for several minutes about the immense wealth he had accumulated beyond his initial goal.

“Why not give that $29 billion to the nonprofit OpenAI? Why didn’t you do that?” » asked Molo. Brockman responded that he and others had poured “blood, sweat and tears” into building OpenAI in the years since Musk left the company.

The OpenAI Foundation has a stake of more than $150 billion in the company, making it one of the wealthiest nonprofits in history, Brockman said. That’s about five times Brockman’s stake. In total, OpenAI employees own approximately 25% of the shares. The foundation owns 27 percent. Brockman testified that OpenAI’s nonprofit received less than $150 million from donors, implying that Musk played an incidental role in the company’s success and that the real drivers were those who stayed behind to develop OpenAI.

Of course, Brockman’s stake in OpenAI could be worth well over $30 billion if the company manages to go public in the next couple of years. When asked if OpenAI was exploring a possible IPO, Brockman said he believed so.

Brockman testified that he believed OpenAI’s nonprofit mission gave him “a high moral position” over competitors like Google DeepMind. Molo repeatedly asked Brockman if he thought his actions, such as not giving $100,000 to OpenAI and then getting a stake worth nearly $30 billion, had made him “morally bankrupt.” Brockman replied that he didn’t think so.

Molo also questioned Brockman about his allegiance to Altman. Emails revealed in the case show that Brockman was initially paid at OpenAI with a $10 million stake in Altman’s family office. Brockman said Musk was not immediately informed about it, but he and Altman disclosed it in 2017 when Musk requested it.

Brockman also testified that he invested in several companies that have signed major partnerships with OpenAI, including Brain, CoreWeaveAnd Helion Energy. Altman’s history of investing in companies that work with OpenAI has undergone careful scrutiny. But Brockman’s potentially conflicting ties had received relatively less attention until Monday.

Responding to questions from Musk’s lawyers, Brockman was almost robotic in his responses. Until now, the president of OpenAI has followed the progress of the trial every day. During his testimony, Altman sat on a bench in the public gallery, looking at the ground and appearing somewhat dismayed. Brockman’s wife, Anna, who held his hand as he entered the courtroom, sat behind Altman, fidgeting with a KN95 mask in hand. But under cross-examination, Brockman appeared more animated, smiling as he told his side of the story and recounted OpenAI’s beginnings.

According to Brockman, when Musk left the OpenAI board, he threatened to create a competing AI lab within Tesla. When asked if Tesla had ever considered becoming a nonprofit or open source its technology, Brockman responded simply: “No.”

Musk’s lawyers are expected to have another chance with Brockman on Tuesday before possible testimony from Shivon Zilis, Musk’s confidant.


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