Billionaire’s lawyers say offer will be withdrawn if firm he helped found a decade ago ‘preserves the charity’s mission’
Elon Musk says he will abandon his $97.4bn offer to buy the non-profit behind OpenAI if the ChatGPT maker drops its plan to convert into a for-profit company.
“If OpenAI, Inc’s Board is prepared to preserve the charity’s mission and stipulate to take the ‘for sale’ sign off its assets by halting its conversion, Musk will withdraw the bid,” lawyers for the billionaire said in a filing to a California court on Wednesday. “Otherwise, the charity must be compensated by what an arms-length buyer will pay for its assets.”
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