Citing paperwork filed with the IRS and a state regulator, a report by TechCrunch stated that Musk couldn’t have given the non-profit the $100 million he initially claimed.
“In fact, while the source of much of OpenAI’s funding remains unclear, filings contain only around $15 million of donations that can be traced definitively back to Musk,” the report claimed.
I’m nonetheless confused as to how a non-profit to which I donated ~$100M someway grew to become a $30B market cap for-profit. If that is authorized, why doesn’t everybody do it?
— Elon Musk (@elonmusk) March 15, 2023
The report stated that in 2016, the Musk Basis made a $10 million donation to a non-profit related to present CEO Sam Altman, known as YC.org. YC.org, in flip, made a $10 million donation to OpenAI – which stays the one publicly disclosed money contribution from Musk to OpenAI.
YC additionally gave OpenAI $16 million in 2017, of which at the least $5 million was doubtless Musk’s, the report stated.
Musk lately claimed he donated $50 million
Musk, in an CNBC interview this week, stated that he donated $50 million — precisely half of which he claimed earlier than – to OpenAI. When requested how a lot he had donated to OpenAI, Musk replied: “I’m not sure the exact number but it’s some number on the order of $50 million.”
Musk’s OpenAI connection
Musk was beforehand related to OpenAI and tried to take management of the startup in early 2018. Nonetheless, Altman and OpenAI’s different founders rejected Musk’s proposal. Musk then walked away from the corporate and has been claiming that he donated $100 million.
I donated the primary $100M to OpenAI when it was a non-profit, however haven’t any possession or management
— Elon Musk (@elonmusk) March 24, 2023
“I donated the first $100 million to OpenAI when it was a non-profit, but have no ownership or control,” he stated in certainly one of his tweets.