Elon Musk's bid to purchase OpenAI has finally come to an end with a unanimous rejection from the company's board of directors.
According to Reuters, Sam Altman's artificial intelligence company, OpenAI, on Friday, February 14, 2025, formally rejected the richest man in the world's, Musk’s, bid to purchase the company.
OpenAI Board Chair Bret Taylor, in a statement on tech giant-owned social media platform X, said, “OpenAI is not for sale, and the board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition. Any potential reorganisation of OpenAI will strengthen our nonprofit and its mission to ensure AGI benefits all of humanity.”
Moreover, Tesla boss’ lawyer Marc Toberoff responded to the rejection, saying that it was “no surprise” after Altman’s statement, who called the bid “ridiculous.”
He asserted that the group was surprised to see the action coming from the board, “which has strict fiduciary duties to carefully consider the bid in good faith on behalf of the charity. They’re just selling it to themselves at a fraction of what Musk has offered. Will someone please explain how that benefits ‘all of humanity?’”
Notably, Musk offer came after ChatGPT's parent company, OpenAI, in December 2024, outlined plans to revamp the structure of the company and create a public benefit corporation to make it easier to "raise more capital than we'd imagined," without the limitations of its current non-profit structure.
