OpenAI Staff Cash Out $6.6 Billion Before IPO — 75 Employees Hit $30M Limit

Table of Contents In October of last year, more than 600 current and former OpenAI staff members participated in a tender offer that generated $6.6 billion through share sales. Approximately 75 individuals sold shares valued at the maximum permitted threshold of $30 million. This marked the first liquidity opportunity for many employees who joined following ChatGPT’s debut in late 2022, as company policy required a two-year waiting period before participation. BREAKING: OpenAI allowed more than 600 current and former employees to sell stock in October 2025, per WSJ. These employees collectively sold $6.6 billion worth of stock. That’s $11 million per person. — The Kobeissi Letter (@KobeissiLetter) May 11, 2026 The artificial intelligence company had initially set a $10 million per-person ceiling on employee stock sales. Last autumn, management increased this threshold to $30 million, attributing the change to substantial appetite from external investors seeking entry. The Wall Street Journal’s initial report on the transaction did not disclose the identities of the purchasing parties. Tender offers provide a mechanism for employees at privately-held companies to liquidate their holdings to external buyers prior to a public offering. While OpenAI has conducted multiple such transactions in recent years, the October event represented the largest by volume. Not all participants retained the full sale proceeds. Several employees transferred portions of their remaining equity into donor-advised funds—tax-advantaged charitable vehicles that enable deductions while earmarking capital for philanthropic purposes. Staff members who acquired shares when OpenAI initially granted equity seven years ago have witnessed valuations multiply more than 100-fold. During the identical timeframe, the Nasdaq composite index approximately tripled. No prior technology sector expansion delivered comparable wealth accumulation for ordinary employees before public market access. Throughout the dot-com bubble, workers typically faced IPO lockup restrictions before selling, and many never realized gains after the market collapse. The competition for artificial intelligence talent is simultaneously driving compensation packages to unprecedented levels industry-wide. OpenAI advertises certain technical positions with annual base salaries exceeding $500,000. Meta has purportedly extended compensation packages approaching $300 million to secure elite AI researchers. During Monday court proceedings, OpenAI President Greg Brockman testified that his equity stake is valued at approximately $30 billion. CEO Sam Altman has publicly stated he maintains no ownership stake in the company, though this status may shift based on resolution of ongoing litigation with Elon Musk concerning OpenAI’s transition from nonprofit to for-profit operations. OpenAI currently holds the position as the world’s most valuable privately-held technology enterprise. Its most recent funding round established a company valuation of $852 billion. Market observers anticipate public offerings from both OpenAI and Anthropic, which would unlock liquidity for thousands of additional employees. The wealth creation is already producing tangible economic impacts. Multiple reports have connected the concentration of highly-compensated technology professionals to accelerating rental costs in San Francisco. For the present, October’s share sale represents one of the most substantial pre-IPO employee compensation events in technology sector history. Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.