Elon Musk launched a $97,4 billion bid for OpenAI to take control. The Wall Street Journalreported that a group of investors, led by Musk’s xAI, made an unsolicited bid to the board of directors of the company on Monday. The group wants to purchase the nonprofit that controls OpenAI for-profit arm. OpenAI’s spokesperson pointed Engadget towards an article when asked for comment. Sam Altman, CEO, posted a message on X . Altman wrote “No thank you but we will buy twitter for $9.74 billion if you want,” on the social media platform Musk is the owner of.
Musk told The Journal in a statement that his attorney shared
“It’s time for OpenAI to return to the open-source, safety-focused force for good it once was,” Musk. “We will make sure that happens.”
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The bid by Musk is not serious and it’s hard to tell if it will succeed. OpenAI isn’t a traditional company. The nonprofit structure that Sam Altman and other company officials want to see it move away from could actually protect it from Musk’s offer. If OpenAI were a traditional for-profit business with traditional shares, Musk’s offer would trigger what is known in corporate law, as a Revlon Moment, where the board of directors could be forced to sell to the highest bidder under certain circumstances to maximize shareholder profits.
Musk was not a fan of Altman’s joke. He wrote “Swindler” as a response and called him “Scam Altman.”
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