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Sam Altman, CEO of OpenAI, has rejected a $97.4 billion bid from Elon Musk and a consortium of investors aiming to acquire the organization. The bid aims to return OpenAI to its original non-profit roots, a point Musk emphasized due to concerns over the company's shift towards a for-profit model. Musk, who co-founded OpenAI in 2015 and later resigned from its board, has been vocal about his disagreements with its current direction, claiming it betrays its foundational mission, according to lawyer Marc Toberoff.
After Altman's dismissal of the bid on social media, he humorously suggested that the group could instead purchase X (formerly Twitter) for $9.74 billion. Musk, who bought X for $44 billion in 2022, simply called Altman a "Swindler" in response. This feud is intensified by ongoing legal battles over OpenAI's transition to a for-profit structure, which has drawn Musk’s criticism. The complications arose after the successful launch of ChatGPT, leading to increased revenues and tensions within the organization.