now imposes a difficult condition to back down

Elon Musk launched earlier this week An offer of 97.4 billion dollars for the non -profit organization that controls Openai. The unexpected acquisition proposal became a Potential problem For the plan set by Sam Altman to transform the startup commercial arm In a public benefit corporation (PBC)freeing it in addition to the control of the entity Nonprofit.

Now, so that this restructuring can come true, Openai should have to compensate for the organization without profit. As we pointed out a few days agothe point is that it is not known how much the Nonprofitalthough Openai has pointed out in the past that as part of the process he would receive “PBC actions on a fair assessment determined by independent financial advisors.”

Elon Musk’s movement and the value of the Nonprofit

Bloomberg points out that Openai has been studying the organization without profit with a 25% participation of its commercial arm. Taking into account the valuation of 157,000 million dollars, the aforementioned percentage would result in some 40,000 million dollars. In other words, it is an amount of money much smaller than that offered by the group of investors led by Musk.

Altman’s legal team It soon expose Musk’s movement before the Tax, and assured that the owner of X cannot try to buy the aforementioned organization when he is also trying to avoid by the judicial route OpenAi becomes a PBC. Recall that both entrepreneurs are wrapped in a judicial battle that has given many laps, but without a conclusion in sight.

Musk’s lawyers, meanwhile, They have said that Your client will withdraw the acquisition offer if the Openai Board of Directors undertakes to “Preserve the mission of the beneficial and stipulate organization that the sign of ‘is sold’ of its assets stopping its conversion ”. This movement also exerts pressure on Altman, who probably did not expect to find himself in this situation.

In New York Times they highlight Openai’s need to continue with the plan drawn. According to documents seen by the American newspaper, the conditions of its last financing round establish that the conversion must be completed within a shorter than two years. If it does not occur, the financing will become debt. Musk is also willing to increase its offer if there are equivalent proposals.

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