How Much Does Sam Altman Make in 2023?
Sam Altman, CEO of OpenAI, earns a relatively modest salary for leading one of the world’s most prominent AI startups. In 2023, his compensation totaled $76,001, according to OpenAI’s tax filings—a 3.4% increase from the $73,546 he earned in 2022.
A Modest Salary Compared to the Bay Area’s Standards
To put Altman’s salary into perspective, the median household income in San Francisco County—where Altman owns a $27 million mansion—is $126,730, as per the U.S. Census Bureau. Additionally, the median U.S. salary in 2022 was about $66,621. Despite these figures, Altman has been vocal about his decision to keep his compensation relatively low.
In May 2023, during his congressional testimony, Altman revealed that he receives full health insurance as part of his compensation package but does not hold any equity in OpenAI.
Sam Altman’s Net Worth: Beyond Salary
While his salary may seem modest, it doesn’t reflect the CEO’s true financial standing. In March 2023, Bloomberg estimated Altman’s net worth at $2 billion, excluding any potential stake in OpenAI. His wealth is primarily tied to significant investments, including $1.2 billion spread across various venture capital funds.
Who Earns the Most at OpenAI?
Surprisingly, Altman isn’t the highest-paid executive at OpenAI. Co-founder Ilya Sutskever and secretary/treasurer Chris Clark earned significantly more in 2023, receiving $347,354 and $322,201, respectively. However, both left the company in May, adding another layer of change within the organization.
OpenAI’s Skyrocketing Valuation and Potential Windfalls
OpenAI, the developer of ChatGPT, saw its valuation climb to an impressive $157 billion in 2023 after raising $6.6 billion in funding. This growth has fueled speculation about Altman’s financial stakes.
Reports suggested that if OpenAI were to restructure as a for-profit entity, Altman could secure a 7% stake, potentially adding $10 billion to his fortune. However, Altman denied these rumors during an all-hands employee meeting, emphasizing his commitment to OpenAI’s mission rather than personal financial gain.
Balancing Leadership and Wealth
Altman’s relatively low salary underscores his focus on advancing OpenAI’s vision rather than accumulating wealth through his role. His financial strategy involves significant external investments rather than relying solely on income from OpenAI.
As OpenAI continues to shape the future of artificial intelligence, Altman’s leadership and financial decisions highlight a unique approach to balancing personal values with the responsibilities of leading a high-impact organization.
