Understanding who owns what in the new OpenAI reveals the power dynamics at play.
Ownership Distribution ($500B Total):
- Microsoft: 27% ($135B) — Down from 32.5% pre-restructuring. IP rights extended through 2032. Additional $250B Azure commitment secured.
- OpenAI Foundation: 26% ($130B) — The nonprofit’s stake makes it “one of the best-resourced nonprofits in history.” Committed to $25B in health breakthroughs and AI resilience.
- Employees: 26% ($130B) — Converted from complex capped-profit structure to conventional equity. This is the real talent retention play.
- Other Investors: 21% ($105B) — SoftBank, Oracle, MGX, and others from recent funding rounds.
The Microsoft Relationship Redefined:
- IP Rights: Extended through 2032, including post-AGI models
- AGI Verification: Independent expert panel must verify AGI claims
- Exclusivity Loosened: Both parties can pursue alternatives
- Hardware Carved Out: Consumer hardware excluded from Microsoft’s IP rights
The Paradox: The largest shareholder (Microsoft at 27%) has zero board seats.
This is part of a comprehensive analysis. Read the full analysis on The Business Engineer.









