Elon Musk’s attempt to purchase OpenAI has officially come to an end as the company’s board of directors unanimously rejected his offer.
According to Reuters, Sam Altman’s artificial intelligence company, OpenAI, formally turned down Musk’s bid on February 14, 2025.
OpenAI Board Chair Bret Taylor, in a statement on the tech giant-owned social media platform X, stated,
“OpenAI is not for sale, and the board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition. Any potential reorganization of OpenAI will strengthen our nonprofit and its mission to ensure AGI benefits all of humanity.”
Additionally, Tesla CEO’s lawyer, Marc Toberoff, responded to the rejection, stating that it was “no surprise,” especially after Altman dismissed the offer as “ridiculous.”
He further argued,
“We were shocked to see this action from the board, which has strict fiduciary duties to carefully consider the bid in good faith. They are just selling it to themselves at a fraction of what Musk has offered. Can someone please explain how that benefits ‘all of humanity?’”
Notably, Musk’s offer came after OpenAI announced in December 2024 that it planned to restructure and create a public benefit corporation to raise capital beyond what was possible under its current nonprofit model.
