Even before the IPO, 600 OpenAI employees have already realized 6.6 billion US dollars in cash.
Article excerpt
Highlighted: the sentence this signal was extracted from
In Silicon Valley history, the myth of getting rich quick usually follows a fixed script: a company starts in a garage, suffers losses for years, and finally rings the bell for an IPO on NASDAQ. Then the stock price skyrockets, and hundreds of early employees become "paper millionaires" overnight. Google's 2004 IPO produced around 1,000 paper millionaires. This is considered the pinnacle of the internet age. But in the AI age, this script has been torn up. The timing for realizing wealth has been moved forward in an extremely brutal way. According to the latest market news, last October around 600 OpenAI employees realized an astounding 6.6 billion US dollars in total as part of a tender offer for existing shares. In this transaction, about 75 employees directly reached the cap of 30 million US dollars for the sale; the remaining 525 individuals each achieved an average of about 8.3 million US dollars in cash. This transaction pushed the valuation of OpenAI, which was not yet publicly traded at that time, to 500 billion US dollars. Meanwhile, OpenAI's valuation has risen to 852 billion US dollars, and the company has already secretly filed for the IPO. Although it will be a while before the final bell is rung, the core employees already have multi-generational wealth in their pockets. The paper wealth is waiting for the bell, while the cash has long since left the building...
Keep reading with a free account
The rest of this article, and every signal for OpenAI, is in your free account.