Sam Altman Net Worth 2024

What is Sam Altman’s Net Worth?

Sam Altman is an entrepreneur, programmer, investor and blogger who has a net worth of $500 million. Sam Altman is greatest recognized for being the previous president/CEO of each the factitious intelligence analysis laboratory OpenAI, and the expertise startup accelerator Y Combinator.

Through his capability at Y Combinator and his private investments, Altman is main angel investor, having invested in such corporations as Reddit, Asana, Zenefits, Instacart, Soylent, and Airbnb. Reddit’s February 2024 pre-IPO submitting revealed that Sam owns 8.7% of Reddit.

Interestingly, in March 2023 it was revealed that Sam Altman didn’t take any fairness in OpenAI. That presumably means he didn’t profit considerably from the corporate’s exploding personal valuation.

Sam Altman was fired from OpenAI on Friday, November 17, 2023. After a wild weekend of backwards and forwards boardroom battles, Sam was reinstated as CEO late on the night of November twenty first.

Early Life and Education

Sam Altman was born on April 22, 1985 in Chicago, Illinois. He was raised in St. Louis, Missouri, and went to John Burroughs School, a college preparatory faculty within the suburb of Ladue. For his greater schooling, Altman attended Stanford University, the place he studied pc science; nevertheless, he ended up dropping out in 2005.

Career Beginnings

At the age of solely 19 in 2005, Altman co-founded the corporate Loopt; he additionally grew to become its CEO. The firm supplied a geo-social networking cellular utility that allowed customers to share their places with different individuals on a selective foundation. Despite the truth that Altman managed to lift over $30 million in enterprise capital for Loopt, the corporate was shut down in 2012 when it failed to achieve traction. It was subsequently bought by Green Dot Corporation.

Y Combinator

In 2011, Altman grew to become a part-time accomplice at Y Combinator, a expertise startup accelerator that has helped launch over 3,000 corporations, akin to Airbnb, Dropbox, DoorDash, Reddit, and Twitch. A couple of years later, in 2014, Altman grew to become the brand new president of the corporate, changing Paul Graham. In his first spherical of investments, he included his firm Loopt. Altman additionally started a brand new deal for startups, providing $150,000 for 7% fairness. In 2015, he introduced the creation of YC Continuity, a $700 million growth-stage fairness fund that invests within the corporations of Y Combinator. The identical yr, Altman introduced the formation of Y Combinator Research, a non-profit analysis lab that focuses on researching schooling, primary earnings, city growth, and the way forward for computing.

In 2016, Altman introduced that he would grow to be the president of YC Group, which is comprised of Y Combinator in addition to the opposite items. Three years later, he transitioned to the place of chairman so he may focus extra on his different firm, OpenAI. Altman was changed as CEO of YC Group by Geoff Ralston in 2019, and right this moment is not related to the corporate.

OpenAI

Along with Elon Musk and plenty of different traders, Altman introduced the creation of OpenAI in December of 2015, and pledged greater than $1 billion to its operation. Comprised of the for-profit company OpenAI LP and the non-profit OpenAI Inc., its dad or mum firm, OpenAI conducts analysis within the sphere of synthetic intelligence. Its purpose is to advertise and develop pleasant AI that can show helpful to all of humanity. Altman serves because the CEO of the corporate, which is headquartered within the Mission District of San Francisco.

OpenAI has launched many merchandise and purposes. In 2016, it launched a public beta of Gym, the platform it makes use of to conduct reinforcement studying analysis. The identical yr, the corporate launched Universe, a software program platform used to coach and measure an AI’s general intelligence internationally’s thousands and thousands of internet sites, video games, and purposes. Later, in 2020, OpenAI introduced the creation of GPT-3, a language mannequin that mechanically produces human-like textual content by assimilating trillions of phrases from all corners of the Internet. Moreover, it could possibly translate between completely different languages.

On January 10, 2023 OpenAI raised cash from Microsoft in a personal funding spherical that valued the corporate at $29 billion. Microsoft reportedly plans to combine future variations of GPT into its Bing search outcomes.

As we said at first of this text, Sam didn’t take any fairness in OpenAi earlier than agreeing to grow to be CEO.

Sam Altman was fired from OpenAI on November 17, 2023. It was not instantly clear why OpenAI’s board reached the choice to oust Altman. And then just some days later, Sam was reinstated as CEO late on the night of November twenty first.

Angel Investing

Altman is a big determine on the earth of agent investing. He has invested in such main corporations as Airbnb, Reddit, Asana, Pinterest, Teespring, Instacart, Vicarious, Soylent, Verbling, and Stripe. Additionally, he served because the CEO of Reddit for eight days in 2014, succeeding Yishan Wong.

Reddit Stake

In February 2024 Reddit filed an S-1 doc in preparation of its pending IPO. This submitting revealed that Sam owns 8.7% of Reddit. That’s greater than double the stake held by Reddit’s CEO Steve Huffman.

Other Endeavors

Beyond his entrepreneurial and funding work, Altman serves as chairman of the board for the nuclear power corporations Oklo and Helion. He has claimed that nuclear power is among the many world’s most crucial areas for technological growth.

On the philanthropic facet of issues, Altman had a powerful hand in funding Project Covalence, a bunch dedicated to serving to researchers launch speedy scientific COVID-19 trials in partnership with the startup TrialSpark. Altman additionally donated 1 / 4 of one million {dollars} in 2020 to American Bridge twenty first Century, a Super-PAC in help of Joe Biden’s presidential marketing campaign.

Personal Life

Altman is homosexual, having come out in his youth. In 2024 he married Australian software program engineer Oliver Mulherin. Although he by no means completed his undergraduate schooling at Stanford, Altman was given an honorary diploma from the University of Waterloo in 2017.

Real Estate & Car Collection

Sam Altman owns round $100 million price of actual property, totally on the West Coast of the United States (together with Hawaii). He purchased $85 million price of actual property in just below two years between 2020 and 2022. Here’s a breakdown of his actual property portfolio:

• In March 2020 Sam paid $27 million for a mansion in San Francisco’s Russian Hill neighborhood. In addition to a main residence, the house has a separate “wellness heart” with infinity pool.
• In December 2020 Sam paid $15.7 million for a 950-acre property in Napa, California. The property, which is simply quarter-hour from downtown Napa, encompasses a 12,000 sq. feet of dwelling house throughout 5 residences, two enormous personal lake and countless rolling hills.
• In July 2021 Sam paid $43 million for a 12-bedroom, 12,000 sq. foot, oceanfront property on Hawaii’s Big Island.

Sam can also be a famous automotive collector. He owns one among 2,450 Tesla Roadsters that have been produced. He owns a 2013 Model S. More impressively, he owns at the very least two McLarens, one among which is valued at over $15 million.