Court documents show how Sam Altman became billionaire without owning a single share of OpenAI

New documents from OpenAI-Elon Musk $150 billion trial has shed light on how OpenAI CEO Sam Altman became a multi-billionaire despite famously owning zero equity in the company he leads. The details, emerged during hearings for the trial, show that he holds more than $2 billion in personal investments in companies that do direct business with OpenAI.During the hearing, Musk’s legal team presented a list of nine companies where Altman holds significant stakes, as per a report by news agency Reuters. These investments, valued as of late 2025, show a deeply interconnected web of business deals:The revelation has sparked “self-dealing” allegations. Musk’s lead lawyer, Steven Molo, argued that Altman had an “obvious conflict” by spearheading negotiations with companies like Reddit and Helion while standing to profit personally from those companies' success.Altman, however, rejected these claims under oath. He testified that he followed “standard corporate recusal” procedures, meaning he stepped out of the room during final votes and did not sign the agreements himself.“I had other people in the room with me,” Altman testified, explaining that the OpenAI board had the final say on all terms to ensure fairness.Meanwhile, the financial complexity of Altman’s wealth has also caught the attention of the US government. According to Reuters, 10 US state attorneys general have asked the Securities and Exchange Commission to scrutinise OpenAI’s documents ahead of its highly anticipated IPO.The House Committee on Oversight and Government Reform has requested information on OpenAI’s internal policies to prevent conflicts of interest. The attorneys general stated that Altman’s conduct “raises serious legal questions and demands close scrutiny.”While Altman’s lack of OpenAI shares was once seen as a sign of his “non-profit” dedication, Forbes now estimates his net worth at $4 billion. This fortune was built primarily through venture capital investments made before and during his time at OpenAI.