Andrew Caballero-Reynolds/ Getty Images; Isabel Fernandez-Pujol/ BI
- Sam Altman has invested in more than 400 companies, The Wall Street Journal reported.
- Some firms reportedly backed by Altman do business with OpenAI, raising questions about conflicts.
- OpenAI says the company carefully manages any potential conflicts.
Sam Altman and his venture funds have reportedly invested in more than 400 companies.
The Wall Street Journal reported that Altman is one of Silicon Valley's most prolific individual investors, with holdings worth at least $2.8 billion as of early this year.
The CEO does not own a stake in OpenAI, which has been valued at $86 billion. He reportedly earns a yearly salary of around $65,000. His net worth, however, recently crossed the $2 billion mark, Bloomberg reported.
Most of this is due to his sprawling investment portfolio, which includes major companies such as Reddit and Stripe.
The Journal reported that Altman has also drawn on a debt line from his bank, JPMorgan Chase, which allows him to invest hundreds of millions of dollars in private startups.
The Journal report said that several of the startups Altman has poured money into also do business with OpenAI, raising questions about potential conflicts for the AI company's CEO.
In a recent example, OpenAI announced a partnership with Reddit, which sent the company's stock soaring by more than 10% and boosted Altman's personal Reddit stake by $69 million.
In a blog post about the partnership, OpenAI said Altman was not involved in the deal, which was led by the company's COO and approved by its independent board of directors.
Representatives for Altman did not immediately respond to a request for comment from Business Insider made outside normal working hours.
When contacted by The Journal, a spokesperson for Altman declined to comment on any potential conflicts of interest between OpenAI and his personal investments.
Bret Taylor, the chairman of OpenAI's board, told the outlet Altman had "consistently followed policies and been transparent about his investments."
"Sam is fully focused on his role as CEO. We carefully manage any potential conflicts and always put OpenAI and our mission first," Taylor said.
Former OpenAI board member Helen Toner, who helped drive Altman's brief ouster from OpenAI last November, recently accused the CEO of "withholding information" and "misrepresenting" what was going on.
In an episode of the "The TED AI Show" podcast, Toner claimed Altman did not tell the board he previously owned the OpenAI startup fund.
Taylor said in a statement to the podcast at the time, "We are disappointed that Ms. Toner continues to revisit these issues."
Reuters reported that it was documented in a March filing that the company had changed the governance structure of its venture capital fund, so Altman was no longer in control of the fund.