Altman Holds Stakes Worth Over $2B in Companies Linked to OpenAI: Court Filing

OpenAI chief executive Sam Altman holds stakes worth more than $2bn in companies that have done business with the artificial intelligence firm, a court document has revealed, as he faces allegations of self-dealing from state attorneys general and Elon Musk, alongside a US congressional investigation.

The list of investments was disclosed in court on Tuesday during hearings in Musk’s lawsuit seeking $150bn in damages, as well as Altman’s removal as an officer and board member. Musk’s claims include breach of charitable trust and unjust enrichment. Altman has rejected the allegations and told the court he recuses himself from key discussions involving companies in which he has invested.

Ten US state attorneys general on Tuesday also asked the US Securities and Exchange Commission (SEC) to scrutinise OpenAI documents ahead of an expected initial public offering. Meanwhile, the US House of Representatives’ Committee on Oversight and Government Reform last week requested information from Altman on OpenAI’s policies to prevent conflicts of interest.

In court, Musk’s lead trial lawyer Steven Molo presented a document detailing Altman’s holdings in nine companies that have done business with OpenAI, along with their fair market value as of 31 December 2025.

Altman does not hold direct equity in OpenAI, although he has amassed an estimated net worth of about $4bn, according to Forbes, through venture capital investments made before and during his tenure at the company. The list of firms with OpenAI-related dealings includes a $1.7bn stake in fusion energy company Helion Energy, a $633m stake in financial software firm Stripe, and a $258m stake in anti-ageing pharmaceutical company Retro Biosciences.

The document also shows Altman sold his stake in Reddit by the end of 2025. His holdings were worth more than $600m on the day the company went public in 2024, according to SEC filings at the time. Other companies listed include chipmaker Cerebras, people management software firm Lattice (formerly Degree), AI device maker Humane, AI software company Software Applications, and pharmaceutical AI firm Trialspark, now known as Formation Bio.

Altman testified that he was friends with Helion’s founders and first invested in the company in 2015. Helion, which is aiming to build the world’s first fusion power plant, does not generate revenue but has been valued in private markets at $5.4bn.

He told the court he asked OpenAI’s board to explore working with Helion in late 2022 and supported the proposal. Helion first signed an agreement to secure future energy supply for OpenAI in 2024. Altman stepped down from Helion’s board in March 2026 as both companies explored a broader deal.

Altman said he was “recused from it on both sides” in relation to the 2024 agreement and did not sign the deal.

Molo said Altman had an “obvious conflict” in leading negotiations for a May 2024 content partnership between OpenAI and Reddit.

“We decided that the board would approve any final terms,” Altman said. “I had other people in the room with me. This was a well-discussed standard corporate recusal.” Molo also questioned Altman about a $10bn computing deal with Cerebras, in which Altman holds a stake worth $3.2m.

The attorneys general of Alabama, Arkansas, Florida, Idaho, Iowa, Louisiana, Montana, Nebraska, Oklahoma and West Virginia — all Republicans — told the SEC that “Altman’s conduct to date raises serious legal questions and demands close scrutiny.” The SEC declined to comment.

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