Dozens of OpenAI employees have become multi-millionaires in a massive secondary deal
[56099] Dozens of OpenAI employees have become multi-millionaires in a massive secondary deal
The artificial intelligence giant allowed its employees to sell shares worth a total of $6.6 billion, in a move that made dozens of them wealthy even before an IPO.
Dozens of OpenAI employees have become multi-millionaires in a massive secondary deal
A wave of wealth has landed on the employees of the artificial intelligence company OpenAI, after the company executed a significant 'secondary' transaction. According to a report by Geektime - Israel's tech and high-tech news channel, the company allowed hundreds of employees to cash out shares, a move that turned dozens of them into multi-millionaires even before the IPO.
As part of the latest sale round, employees raked in a cumulative sum of $6.6 billion. As noted by the 📱 Tech Updates 💻 channel, the company increased the ceiling allowed for sale for each employee up to an amount of $30 million per individual, which allowed hundreds of employees to enjoy the financial fruits of the company's success at this stage already.
The news received widespread echoes in the local tech media, with the Technology - The Leaker channel also confirming the reports regarding the scale of the deal and the transformation of dozens of employees into multi-millionaires as a direct result of the share sale. All sources agree on the key financial data and present a uniform picture of the business move at OpenAI.