Sam Altman's net worth crosses $2B; OpenAI isn't the reason
Sam Altman, the founder and CEO of OpenAI, has recently seen his net worth surpass $2 billion, per the Bloomberg Billionaire Index. Surprisingly, his wealth is not tied to his artificial intelligence start-up since he holds no stake in OpenAI, which is valued at $86 billion. Instead, the bulk of Altman's wealth can be traced back to a network of venture capital funds and start-up investments.
Altman funds Hydrazine Capital and Apollo Projects
A considerable part of Altman's net worth comes from his investments in venture capital funds and start-ups. The 38-year-old has poured $1.2 billion into a series of funds under the variations of the name Hydrazine Capital, per regulatory filings and Bloomberg estimates. Additionally, he has invested $434 million in funds at Apollo Projects, a firm supporting "moonshots," per its website. Altman also invests in privately-held companies like Neuralink, which don't disclose his stake and aren't included in Bloomberg's wealth calculation.
Investments in Reddit and other start-ups
Moreover, Altman-affiliated entities hold an 8.7% stake in Reddit, which recently filed for its public offering. This investment is anticipated to significantly boost his net worth in the coming months. Separately, Altman has invested in two lesser-known start-ups: Helion Energy Inc., where he led a $500 million investment round in 2021, and Retro Biosciences, with a $180 million investment aimed at extending the average human lifespan by 10 years.