It was founded as a non-profit. So that $1B was not in exchange for equity. They changed to a capped profit model in 2019. As part of this, Open AI Global LLC w

It was founded as a non-profit. So that $1B was not in exchange for equity. They changed to a capped profit model in 2019. As part of this, Open AI Global LLC was created. This for profit (capped at 100x initial investment) is controlled by the original OpenAI LLC. Employees were granted something like profit participation/equity in Open AI Global LLC, and new investments went into this entity under similar terms. Altman has repeatedly claimed no equity, so, taking him at his word, he did not participate in whatever the profit participation/equity arrangement that was made for employees and new investors.