Sam Altman holds more than $2 billion in personal investments across companies that have conducted business with OpenAI, court documents revealed Tuesday, intensifying scrutiny of the chief executive as he faces mounting legal and political pressure over potential conflicts of interest.
The disclosures emerged during hearings in Oakland, California, where Altman testified in the lawsuit brought by Elon Musk seeking $150 billion in damages and Altman’s removal as an officer and board member of the artificial intelligence company he leads. Musk’s claims include breach of charitable trust and unjust enrichment — charges Altman has rejected.
Altman’s Investment Portfolio Laid Bare
Musk’s lead trial lawyer Steven Molo introduced a document during cross-examination revealing Altman’s holdings in nine companies that had done business with OpenAI, valued as of December 31, 2025. The largest position is a roughly one-third stake in fusion power company Helion Energy, worth approximately $1.7 billion. Altman also holds $633 million in financial software company Stripe and $258 million in anti-aging pharmaceutical company Retro Biosciences — all three of which have existing deals with OpenAI.
Additional companies on the list include chip maker Cerebras, people management software company Lattice, AI device maker Humane, AI software maker Software Applications, and AI pharmaceutical company Formation Bio, formerly known as Trialspark. The document also revealed Altman had sold off his stake in Reddit by the end of 2025, holdings that were worth more than $600 million on the day the company went public in 2024.
Altman does not hold direct equity in OpenAI itself. His estimated $4 billion net worth, per Forbes, was built through venture capital investments made prior to and during his tenure leading the company.
Helion Takes Center Stage
Of all the investments, Helion drew the most pointed questioning. Altman confirmed under cross-examination that he owns roughly one-third of Helion, a stake valued at approximately $1.65 billion as of late 2025. He first invested in the company in 2015, testified that he asked OpenAI’s board to explore working with Helion in late 2022, and vouched for it as a good deal. Helion first signed an agreement to secure future energy for OpenAI in 2024.
Altman acknowledged that a significant portion of his time at OpenAI is spent securing energy and compute resources — work he was previously doing while also chairing Helion’s board. He stepped down from that board in March 2026 as the companies explored a larger arrangement. Altman maintained throughout testimony that he recused himself from key decisions involving Helion, saying the recusal covered the decision to proceed and the final approval of terms.
Musk’s attorney also questioned Altman about a $10 billion computing deal with Cerebras, in which Altman holds a stake worth $3.2 million, and pressed him on a 2024 content partnership between OpenAI and Reddit, arguing Altman had an obvious conflict in leading those negotiations. Altman said the board approved the final terms and that other people were present in those discussions.
Altman Sam Faces Pressure From Congress and State AGs
The courtroom drama unfolded alongside simultaneous pressure from two other directions. The U.S. House Oversight and Government Reform Committee sent Altman a letter last week seeking information about how OpenAI identifies and prevents conflicts of interest. Committee chair Rep. James Comer cited Altman’s Helion investment and noted that OpenAI President Greg Brockman holds stakes in two startups that Altman backs and holds a percentage of Altman’s family fund.
Separately, the attorneys general of ten states — Alabama, Arkansas, Florida, Idaho, Iowa, Louisiana, Montana, Nebraska, Oklahoma, and West Virginia — asked the U.S. Securities and Exchange Commission to scrutinize OpenAI documents ahead of an expected initial public offering. The group told the SEC that Altman’s conduct raises serious legal questions that demand close scrutiny. The SEC declined to comment.
A Trial With No Clean Story
Closing arguments in the Musk v. Altman trial are scheduled for Thursday, with a decision from an advisory jury and the presiding judge possible as early as next week. Altman used his own testimony to reframe the central question for jurors — arguing that he did not steal a charity, but that Musk abandoned one. He testified that Musk failed to keep his own promises to the organization and eventually deserted the startup as it was trying to chart out its future.
Neither side has offered a clean, reassuring story about AI governance — a reality that may prove as consequential for public trust in the industry as the verdict itself.
Source: Yahoo Finance
