Sam Altman (born April 22, 1985) is an American entrepreneur and investor who has served as chief executive officer of the artificial intelligence company OpenAI since 2019. He is a prominent figure in the AI boom, having overseen the launch of ChatGPT in November 2022. In November 2023, the OpenAI board ousted him for not being "consistently candid," but after a five-day backlash from employees and investors, he was reinstated and a new board was formed.
Altman was born in Chicago to a Jewish American family and moved to Clayton, Missouri, in 1989. He received his first computer at age eight and learned to code. He attended John Burroughs School and studied computer science at Stanford University for two years before dropping out in 2005 to co-found Loopt, a geosocial networking app. Loopt was acquired by Green Dot Corporation for $43.4 million in March 2012. He joined Y Combinator (YC) as a partner in 2011 and became its president in 2014, a role he held until 2019. As an investor, he has stakes in over 400 companies, including Reddit, Worldcoin, and Helion Energy, and his net worth reached $2 billion by March 2024.
Early Life and Education
Altman was born on April 22, 1985, in Chicago, Illinois, to Connie Gibstine, a dermatologist, and Jerry Altman, a real estate broker. He is the eldest of four siblings. His paternal great-grandfather was born in PÅ‚ock, Poland. In 1989, the family moved to Clayton, Missouri. At age eight, Altman received an Apple Macintosh, sparking an interest in programming and computer hardware. He attended John Burroughs School, a private school in Ladue, Missouri. In 2005, after two years of studying computer science at Stanford University, he dropped out without a degree.
Early Career: Loopt
In 2005, at age 19, Altman co-founded Loopt, a location-based social networking mobile app. As CEO, he raised over $30 million in venture capital, including an initial $5 million from New Enterprise Associates and later investments from Sequoia Capital and Y Combinator. Loopt bought geolocation data from cellular providers to let users see friends' real-time locations. The board twice attempted to remove Altman as CEO, but his supporters defended him. After failing to gain traction, Loopt was acquired by Green Dot Corporation for $43.4 million in March 2012.
Y Combinator Presidency
Altman joined Y Combinator as a part-time partner in 2011. In February 2014, he became president, succeeding co-founder Paul Graham, who had been his mentor. Altman aimed to expand YC to fund 1,000 new companies per year, focusing on "hard technology" startups. In September 2016, his role expanded to president of YC Group. By 2018, his involvement with OpenAI reduced his presence at YC, and some partners complained he used his position for investment priority. Graham said Altman agreed to leave but resisted in practice. In March 2019, YC announced Altman had transitioned to chairman, a claim later described as false; Graham stated Altman was removed due to partners' mistrust.
Investor and Ventures
As of June 2024, Altman's portfolio includes stakes in over 400 companies, valued at around $2.8 billion. Some investments intersect with OpenAI's business, raising conflict-of-interest questions; OpenAI chairman Bret Taylor said Altman has been transparent. In April 2012, Altman co-founded Hydrazine Capital with his brother Jack, with an initial $21 million fund, largely from Peter Thiel. He invested 75% of the fund in YC companies. In 2023, Hydrazine's fourth fund had the University of Michigan endowment as its only outside investor. Altman debuted on the Bloomberg Billionaires Index in March 2024 with an estimated net worth of $2 billion.
Reddit and Worldcoin
For eight days in 2014, Altman served as CEO of Reddit after Yishan Wong resigned. He announced Steve Huffman's return as CEO on July 10, 2015, and remained on the board until 2022. He invested in Reddit's funding rounds in 2014, 2015, and 2021, and before its 2024 IPO, he was the third-largest shareholder with about 9% ownership. In 2019, Altman co-founded Tools For Humanity, the company behind Worldcoin, a cryptocurrency project aiming to provide universal basic income. Worldcoin uses iris scanning for identity verification, and has faced privacy concerns.
Other Investments
Altman has invested in Humane, a wearable AI device company; Retro Biosciences, a longevity research firm; Boom Technology, a supersonic airline developer; Cruise, a self-driving car company later acquired by General Motors; and Helion Energy, a fusion research company. During the COVID-19 pandemic, he helped fund Project Covalence with TrialSpark to accelerate clinical trials. In March 2023, he provided capital to startups affected by the Silicon Valley Bank run. He also invested in charter city projects Próspera and Praxis, associated with the Network State movement.
OpenAI and the 2023 Ouster
Altman co-founded OpenAI in 2015 as a non-profit AI research organization. He became CEO in 2019, overseeing the transition to a capped-profit model and the launch of ChatGPT in November 2022, which made AI widely accessible. On November 17, 2023, the OpenAI board fired Altman, citing a lack of "consistently candid" communication. The move shocked the tech industry. Almost all of OpenAI's 770 employees signed a letter threatening to resign unless Altman was reinstated, and investors, including Microsoft, pressured the board. After negotiations, Altman returned on November 22, 2023, and a new board was formed, with Bret Taylor as chair. The incident highlighted governance tensions in AI development.
Legacy and Impact
Altman's brief ouster and reinstatement underscored the influence of AI leaders and the importance of board accountability. His leadership at OpenAI has positioned him as a central figure in the generative AI revolution, with ChatGPT becoming one of the fastest-growing consumer applications in history. His investments in diverse sectors, from biotech to fusion energy, reflect a broad vision for technological progress. As of 2024, he continues to lead OpenAI, navigating regulatory and ethical challenges in AI deployment.