IPOS

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Arati

Apr 25 at 06:04 PM

joke

M Michael Burry Tracker

Two of the biggest IPOs in history are taking each other to federal court

Elon Musk is suing Sam Altman for $134 billion for fraud and unjust enrichment, per CNBC

Musk co-founded OpenAI in 2015 as a nonprofit, but he walked away in 2018 after donating ~$38M

Shortly after, OpenAI took a $1,000,000,000 check from Microsoft and went for-profit

Musk says he was defrauded, meanwhile Altman says Musk knew and backed the conversion

Jury selection starts Monday

If Musk wins: the 'for-profit' structure gets unwound, Altman and Brockman are removed, and all "ill-gotten gains" go back to the nonprofit

If Musk loses: OpenAI goes public this year, battling SpaceX for the largest IPO in history

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