Dec. 19, 2024
OpenAI Employees Set to Cash Out Stock, With Some Earning Up to $10 Million
TMTPOST -- Around 400 current and former OpenAI employees are set to receive millions of dollars in cash, thanks to a special stock sale arrangement between the San Francisco-based company and Japan's SoftBank Group. Sources revealed that the buyback offer allows qualifying OpenAI employees and ex-employees to sell their shares to SoftBank at a price of $210 per share. SoftBank plans to acquire up to $1.6 billion worth of stock from eligible OpenAI shareholders, who must have held restricted stock more than two years ago to participate in the sale. Eligible OpenAI shareholders must make their decision by December 24. Each participant will be allowed to sell up to $10 million worth of their stock.
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