OpenAI CEO Sam Altman's Modest $76,001 Salary Revealed Amidst Company's Soaring Valuation

Tax Filing Reveals How Much Sam Altman and Other OpenAI Employees Actually Make

Despite his billionaire status, Sam Altman brought home less than six figures from OpenAI last year. OpenAI CEO Sam Altman leads a $157 billion company. But his compensation from the A.I. giant is anything but. Altman was paid a meager $76,001 in 2023, according to a recently released tax filing that was first reported by Bloomberg. This means the OpenAI CEO only received around a 3 percent pay rise from 2022, when he was paid $73,546. But don't worry about Altman's financial standing -- despite his modest salary (and he claims he owns no equity in OpenAI), Altman has a net worth that stretches into the billions thanks to a large network of investments. Sign Up For Our Daily Newsletter Sign Up Thank you for signing up! By clicking submit, you agree to our <a href="http://observermedia.com/terms">terms of service</a> and acknowledge we may use your information to send you emails, product samples, and promotions on this website and other properties. You can opt out anytime. See all of our newsletters The former president of the startup incubator Y Combinator, Altman has spent years in the worlds of startups and venture capital. His fortune was valued at more than $2 billion as of March by Bloomberg, including $1.2 billion worth of investments contained across venture capital funds linked to the name Hydrazine Capital and $434 million in funds at Apollo Projects, which invests in bleeding-edge innovation projects. Altman owns equity in a variety of emerging and established tech companies. These include a $180 million investment made in 2022 in the longevity-focused Retro Sciences and a $375 million investment in the nuclear fusion startup Helion in 2021. Much of the billionaire's wealth also comes from an early stake in the payments company Stripe that now reportedly totals at less than 2 percent. And Altman notably owns around 12.2 million shares of Reddit (RDDT), which gives him a roughly $1.8 billion stake. How much do other key OpenAI employees make? Altman's salary from OpenAI is just large enough to cover "health insurance," he told a senate judiciary subcommittee last May. Despite recent reports suggesting that Altman could receive a 7 percent stake in OpenAI as the company looks to transition into a for-profit corporation, the CEO reportedly shut down these rumors during a September all-hands meeting. While Altman's salary is modest, other OpenAI employees are reaping the rewards of their company's success. Ilya Sutskever, OpenAI's former chief scientist who stepped away from the company earlier this year, received $322,201 in compensation last year, according to OpenAI's tax filing. Sutskever notably played a key role in Altman's brief ousting as CEO last November, which saw Emmett Shear, the former head of Twitch, act as interim CEO for approximately three days before Altman was reinstated. Shear received a total of $3,720 for his short-lived leadership tenure. Other highly paid OpenAI officers in 2023 included Chris Clark, who received $347,354 in his role as secretary and treasurer. Clark also resigned from OpenAI earlier this year. Greg Brockman, OpenAI's president who is currently on sabbatical through the end of 2024, received a similarly conservative pay to Altman's with $85,184 in compensation in 2023. OpenAI's tax filing doesn't include figures about stock-based compensation. Despite Altman unremarkable salary, OpenAI employee compensations are generally high -- Elon Musk, a co-founder, has even described them as "lavish" in legal filings against the A.I. company. Higher-range salaries for software engineers can reach more than $1 million, according to data from Levels.fyi, which reports the company's median yearly compensation at $534,197.

Why Sam Altman's OpenAI salary isn't as high as you would expect

OpenAI may be a company worth $157 billion (€145 billion) but its CEO Sam Altman received $76,001 (€72,000) in compensation last year, according to a tax filing that was just released. Altman, the mastermind behind the generative artificial intelligence (AI) model ChatGPT, said last year that he gets paid "whatever the minimum for health insurance is". This modest income is up slightly from the $73,546 (€70,000) he received in 2022, which tax filings showed, but minimal when he is supposedly worth an estimated $2 billion (€1.9 billion), according to Bloomberg. Altman makes most of his money from a multitude of investments, including in Reddit, Airbnb, Stripe, and Retro Biosciences. While he is an OpenAI investor, he has repeatedly said he does not own equity in the company. OpenAI told Euronews Next in September that "the board has had discussions about whether it would be beneficial to the company" to compensate Altman but that "no specific figures have been discussed nor have any decisions been made". Altman's paycheck was revealed to the Internal Revenue Service, which collects US taxes and to which US-based nonprofits are required to submit information every year. The disclosure from 2023 was the year that OpenAI rose to prominence but also the year that saw the company's board of directors firing Altman, sparking upheaval in the AI industry. The company later brought in another interim CEO before restoring Altman to his leadership role and replacing most of the board members who ousted him. However, there have been several high-profile OpenAI staff exits since those events. OpenAI closed its nonprofit in 2023 to become a for-profit company. The nonprofit received $5 million (€4.7 million) in public contributions last year, according to the filing but the source of the funding was not disclosed. The nonprofit received $21 million (almost €20 million) of net assets at the end of 2023, which is much lower than the $6.6 billion (€6.2 billion) the company raised in October to support its ambition to build powerful AI.

OpenAI CEO Sam Altman's Salary Might Surprise You

Sam Altman, the cofounder and CEO of artificial intelligence market leader OpenAI, was reportedly paid just $76,001 in 2023. It might seem like a shockingly low number, but it's also not entirely unexpected. Bloomberg reported information from a tax filing detailing Altman's and other OpenAI executives' compensation in 2023. The filing also revealed that Ilya Sutskever, a cofounder who left the company to start his own AI firm earlier this year, was paid $322,201. Altman, who cofounded the company as a nonprofit research lab in 2015, has repeatedly maintained that he doesn't keep any equity in OpenAI for ethical considerations; the idea being that without equity, Altman won't be motivated to make business decisions aimed at increasing his own personal wealth. Instead, he'll stick to the company's stated mission of developing AI capable of doing the same work as humans. While testifying before Congress in 2023, Altman said that he's only paid enough to qualify for health insurance.

OpenAI CEO Received $76,001 in Pay Last Year, Filing Shows

OpenAI Chief Executive Officer Sam Altman received a modest $76,001 in compensation last year, up slightly from $73,546 in 2022, a newly released tax filing shows. Altman, who is worth at least $2 billion, has previously said he gets paid "whatever the minimum for health insurance is." He has also repeatedly said he does not own equity in OpenAI. However, the San Francisco-based artificial intelligence startup has discussed giving him a stake as part of a possible shift to becoming a for-profit business, Bloomberg reported.

OpenAI CEO received $76,001 in pay last year, filing shows

Altman, who is worth at least $2 billion, has previously said he gets paid "whatever the minimum for health insurance is." He has also repeatedly said he does not own equity in OpenAI. However, the San Francisco-based artificial intelligence startup has discussed giving him a stake as part of a possible shift to becoming a for-profit business, Bloomberg reported. Altman's paycheck was included in a filing that US-based nonprofits are required to submit annually to the Internal Revenue Service. The 2023 disclosure covers a tumultuous period for OpenAI and the nonprofit that oversees it. The year started with the skyrocketing popularity of OpenAI's chatbot ChatGPT and ended with Altman's brief ouster after clashing with the board. OpenAI's co-founder and former chief scientist Ilya Sutskever, who played a key role in firing Altman and left the company in May, received $322,201 in 2023, making him one of the highest paid officers listed on the form. Emmett Shear, the co-founder of Twitch who served as interim CEO during Altman's ouster, was paid $3,720, according to the filing. Though Shear's tenure appeared to last for about three days, the filing said he was paid from Nov. 19 to Nov. 29, which would be $338.18 per day, including weekends. The total compensation could be much higher for some executives, however. The tax filing does not include any equity-based compensation that OpenAI's named officers may have received as the company's valuation has soared. It also doesn't disclose any outside investment from venture capitalists into OpenAI's for-profit entities. There is only limited visibility into OpenAI's financials given the lag in reporting and the number of companies that are related to its business. The nonprofit lists several partnership companies and related entities, including Aestas LLC, which oversees employee and investor equity. According to the filing, OpenAI's nonprofit received $5 million in public contributions in 2023, but the source of the funding wasn't disclosed. The nonprofit ended 2023 with net assets of more than $21 million -- a tiny sum compared to the $6.6 billion the company raised in October to support its efforts to keep building powerful AI products. Last year, OpenAI expanded its charitable giving beyond universal basic income projects linked to Altman, according to the filing. It funded an ethics and journalism grant at New York University as well as research into AI economic opportunity through Atlanta-based nonprofit Operation Hope. OpenAI also provided financial support for experiments "in setting up a democratic process for deciding what rules AI systems should follow," the company said. The grants went to US institutions such as Harvard College, the University of Washington and the University of Michigan, along with a recipient in East Asia. "As part of our charter, we're committed to collaborating globally with research and policy institutions to address AGI's challenges, and increased grants support this mission," an OpenAI spokesperson said in a statement.