Greg Brockman Defends $30B OpenAI Stake: ‘Blood, Sweat, and Tears’

Two days before the Musk v. Altman trial began, Elon Musk asked OpenAI cofounder and president Greg Brockman about reaching a settlement. When Brockman suggested both sides drop their claims, Musk responded, “By the end of this week, you and Sam [Altman] will be the most hated men in America. If you insist, so be it.”

The message—which OpenAI’s lawyers made public on Sunday, and which Judge Yvonne Gonzalez Rogers subsequently refused to let the jury hear about—underscores what may be Musk’s larger goal in this trial. He appears to be trying to not only win over the jurors to potentially remove Brockman and CEO Sam Altman from power, but also stir up dirt on the two men and damage OpenAI’s public image.

As Brockman took the stand on Monday, Musk’s attorney Steven Molo quickly started questioning him about his compensation at OpenAI. Brockman revealed that his equity stake at OpenAI is currently worth more than $20 billion, and perhaps up to $30 billion. While Brockman initially promised to donate $100,000 to OpenAI when it was being set up, he said he ultimately never followed through.

Brockman has held a number of instrumental roles at OpenAI since he cofounded the company in 2015. In the startup’s early days, it operated out of his apartment in the Mission District of San Francisco. Today, he’s deeply involved with refocusing OpenAI on a few key products, such as Codex. In the past year, Brockman has also given millions to super PACs promoting AI and President Trump, and has previously said this increased political spending is related to OpenAI’s founding mission to create artificial general intelligence that benefits all of humanity.

In court on Monday, Molo tried to make the case that Brockman and Altman had essentially looted OpenAI’s original nonprofit, which Musk funded and helped create.

In its early days, OpenAI told investors and employees that its nonprofit mission took precedence over generating profit. Brockman testified that his financial interests are still, to this day, second to OpenAI’s nonprofit mission.

When OpenAI created its for-profit arm in 2019, which received assets from the nonprofit, Brockman testified that he was given a significant stake in the new entity. Early in OpenAI’s history, Brockman had referenced wanting to be a billionaire, writing in his personal journal, “Financially what will take me to $1B?”

On Monday, Molo pressed Brockman for several minutes about the vast wealth he had accumulated beyond his initial goal.

“Why not donate that $29 billion to the OpenAI nonprofit? Why didn’t you do that?” Molo asked. Brockman responded that he and others had poured “blood, sweat, and tears” into building OpenAI in the years since Musk left the company.

OpenAI’s foundation holds a stake of over $150 billion in the company, making it one of the richest nonprofits in history, Brockman said. That’s roughly five times Brockman’s ownership interest. Altogether, OpenAI employees hold about 25 percent of shares. The foundation has 27 percent. Brockman testified that OpenAI’s nonprofit had received less than $150 million from donors, implying Musk had been incidental to the company’s success and that the real drivers were those who stuck around to build out OpenAI.

Of course, Brockman’s stake in OpenAI could be worth much more than $30 billion if the company successfully goes public in the next two years. When asked whether OpenAI was exploring a potential IPO, Brockman said he believes so.