The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← Sam Altman

Optionality

mixed, and asymmetric between the two ledgers — personally FREE (his ~$2-2.8B VC portfolio is his own to deploy, no known lockup) but the lever he actually pulls (OpenAI's capital) is LOCKED per board.yaml: ~85-90% pre-earmarked against ~$1.0-1.4T in compute obligations. His personal equity stake in the OpenAI Group PBC (part of the 47% employee/investor pool as of the Oct-2025 restructuring) is undisclosed in sourced material — treat any specific % as unconfirmed.

med confidence · as of 2026-07-26 · about Sam Altman

Sourced figures 2

  • Wikipedia — OpenAI OpenAI Group PBC ownership: Foundation 26%, Microsoft 27%, employees+other investors 47% (Oct-2025); Altman's personal share within the 47% not stated

    2025-10 med

  • kestrel board.yaml openai optionality axis locked — ~85-90% pre-earmarked (~$1.0-1.4T compute obligations vs ~$180B raised) and burning (net -$9B 2025)

    2026-07-25 high


the working

Threads 1

A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to Sam Altman.