"We now have some idea of what's at stake in the longstanding feud between Elon Musk and OpenAI. As first reported by , the latest filing, as part of a lawsuit that accuses the AI giant of abandoning its non-profit status, claims that Musk is owed anywhere between $79 billion and $134 billion in damages from the "wrongful gains" of OpenAI and Microsoft."
"Musk claimed in the filing that he's entitled to a portion of OpenAI's recent valuation at $500 billion, after contributing $38 million in "seed funding" during the AI company's startup years. Along with providing "roughly 60 percent of the nonprofit's seed funding," Musk offered recruiting of key employees, introductions with business contacts and startup advice, according to the filing. The monetary estimate comes from C. Paul Wazzan, a financial economist who's serving as Musk's expert in the case."
Elon Musk filed a lawsuit alleging OpenAI abandoned its non-profit status and seeking $79 billion to $134 billion for wrongful gains. Musk claims he contributed $38 million in seed funding—about 60 percent of the nonprofit's early funding—and provided recruiting, introductions, and startup advice. The claim ties to OpenAI's recent $500 billion valuation. Financial economist C. Paul Wazzan estimates OpenAI earned $65.5 billion to $109.43 billion in wrongful gains and Microsoft received $13.3 billion to $25.06 billion. The suit dates to March 2024; Musk later added Microsoft and pursued injunctions, and also accused OpenAI and Apple of monopolistic App Store practices.
Read at Engadget
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