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ChatGPT Turned OpenAI Into a $29 Billion Net Worth Company; Here's Who Led the AI Revolution

According to the Swiss Bank UBS, ChatGPT is the fastest-growing platform of all time with over 100 million active users.
UPDATED DEC 20, 2023
Former OpenAI CEO Sam Altman speaks during the OpenAI DevDay event | Getty Images |  Photo by Justin Sullivan
Former OpenAI CEO Sam Altman speaks during the OpenAI DevDay event | Getty Images | Photo by Justin Sullivan
Name Sam Altman
Net Worth $500 million
Sources of Income Business
Gender Male
Date of Birth April 22, 1985
Age 38 years
Nationality American
Profession Businessman

The CEO of Open AI, Sam Altman returned to the post after he was briefly reinstated in November 2023. His groundbreaking company brought AI to the forefront and made it accessible to the masses. A lot is known about what the Open AI-powered software ChatGPT can do but not many people know about the company in detail. ChatGPT is a product of the company OpenAI based out of San Francisco and was founded by people like Elon Musk, Sam Altman, Peter Theil, Ilya Sutskever, Jessica Livingston, and Reid Hoffman. As of 2023, Altman's net worth is around $500 million.

Image Source: Bloomberg/Getty Images
Image Source: Bloomberg/Getty Images

At the age of only 19, he co-founded the company called Loopt. Despite raising over $30 million in venture capital for Loopt, the company was shut down in 2012 when it failed to gain attention. 

In the year 2011, he became a part-time partner at Y Combinator, which was a start-up accelerator that has helped more than 3000 companies to start. These companies include Reddit, Twitch, Airbnb, Dropbox and DoorDash. 

Along with Musk, Atlman started OpenAI in December 2015 and invested more than $1 billion in its operation. The goal of the company is to promote user-friendly AI that will prove extremely beneficial in day-to-day activities. 

Critics have pointed out certain threats that the company poses biggest among them being the danger of data breach. There are also concerns regarding the Training and other privacy issues. Open AI has also faced criticism regarding the misinformation often delivered by ChatGPT, which however is improving with time. ChatGPT also has a bit of bias that is built into its system which has been pointed out by users time and again. 

Samuel Harris Altman was born in Chicago, Illinois on April 22, 1985. He grew up in a Jewish family with his mother who was a dermatologist, whilst his father was a real estate broker. He attended John Burroughs School, a private school in Ladue, Missouri. and later attended  Stanford University studying computer science, he dropped out without earning a bachelor's degree.

Cover Image Source: Getty Images | Leon Neal  Staff
Image Source: Leon Neal Staff/Getty Images

The application is developed and owned by OpenAI, which is a leading artificial intelligence company founded in December 2015. The company was founded with the joint effort of the following people.

1. Sam Altman: A renowned investor who was previously the president of Y Combinator startup accelerator is the OpenAI CEO and also the co-founder of the location-based social networking app, Loopt. He is one of the initial board members of the company.

2. Elon Musk: Tesla CEO famously invested in ChatGPT with Sam Altman and was also one of the initial board members but left the board back in 2018.

3. Greg Brockman: The CTO of OpenAI, Brockman is the leader of the technical front. He was previously the owner of CTO of Stripe, a technology company that deals with online transactions. 

4. Ilya Sutskever: Sutskever is the Cheif scientist at OpenAI. His job is to work on advancing AI research and innovation. He is an expert in his field of deep learning and has developed various neural network architectures and AI models.

5. John Schulman: He is a research scientist at the company and specializes in reinforcement learning and robotics. He works in developing AI models including ChatGPT's language model.

6. Wojciech Zaremba: He has played an important role in AI research, especially in the fields of robotics and reinforcement learning. His expertise has been crucial in creating the pre-trained transformer (GPT) series and other AI projects at OpenAI.

Cover Image Source | Pexels | Hatice Baran
Image Source: Hatice Baran/Pexels 

The company came under fire when it decided to change its business model from non-profit to for-profit. A few months back Elon Musk tweeted expressing his disbelief with the company now becoming for-profit. "I'm still confused as to how a non-profit to which I donated $100 million somehow became a $30 billion market cap for-profit. If this is legal, why doesn't everyone do it?" he tweeted, per Fortune. The Twitter boss also talked about how the company that was created as an open source is now a closed source.

According to the Swiss Bank UBS, ChatGPT is the fastest-growing platform of all time. The platform had 100 million active users in January 2023 which was only two months after the launch of the platform. The company's success has been groundbreaking and has triggered all the other companies to come up with ChatGPT alternatives like Google Bard AI, and and the still-under-wraps 'AppleGPT'. The platform is famous because of its accuracy and what it can do for businesses. Another fact that adds to its success is that it is community-driven. It grew with almost zero campaigns and marketing and despite already growing so much the platform still has more room for further improvements.

Who Is The New CEO Of Chatgpt?

Sam Altman is back as the CEO of Open AI.

How Did Sam Altman Make His Money?

He made his money through various businesses, especially OpenAI.

What Are Some Of Sam Altman’s Notable Business Ventures?

Some of his businesses include Loopt, Y Combinator, and OpenAI. 

What Personal Investments Has Sam Altman Made?

He is an inventory in Elon Musk's brain implant startup Neuralink. 

What Is Sam Altman’s Impact On The Tech Startup Ecosystem?

His impact is huge in the artificial intelligence ecosystem. 

Why Did Altman Get Fired?

Yes, he was briefly fired from the position of CEO in November 2023. 

Is OpenAI Owned By Microsoft?

Yes, OpenAI is owned by Microsoft, now.