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OpenAI plans to turn its for-profit arm into a Delaware public benefit corporation

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Source: OpenAI

OpenAI said on 27 December 2024 that its board, advised by outside legal and financial firms, planned to convert the existing for-profit into a Delaware public benefit corporation with ordinary shares and OpenAI’s mission as its public benefit. The non-profit would hold a significant stake, valued by independent advisers, and hire staff for charitable work in health care, education and science, while the PBC would run and control the business. OpenAI said investors at the scale its mission now needed wanted conventional equity.

Why it matters

OpenAI’s non-profit board proposed that a shareholder-owned public benefit corporation run and control the company behind ChatGPT, with the non-profit holding shares in it.

When
27 Dec 2024
ID
WTA-N-2024-0051
Who
OpenAI

Summary by wheresthe.ai, from OpenAI. Checked against the source on 9 Oct 2026.

Read the original at OpenAI

Source copy: download the page text as saved on 18 Oct 2026 (PDF). Also held by the Internet Archive.

Earlier in this Storyline: What led hereOpenAI’s board removes Sam Altman as chief executive, then reinstates him

Cite this story

WTA-N-2024-0051: “OpenAI plans to turn its for-profit arm into a Delaware public benefit corporation.” wheresthe.ai, 27 Dec 2024. https://wheresthe.ai/d/openai-public-benefit-corporation-plan-2024-12/ (source: OpenAI).

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