Just when it seemed like Elon Musk had enough on his plate, he and a group of investors have thrown down a massive offer in what looks like an aggressive bid to take over OpenAI.
On Monday, Musk’s investor consortium announced a nearly $97.4 billion offer to acquire all of OpenAI’s assets. They also made it clear they’re willing to match or exceed any competing bids, according to a press release sent to TechCrunch.
Sam Altman isn’t interested.
The OpenAI CEO immediately shut down the idea, responding on X:
“No, thank you. But we will buy Twitter for $9.74 billion if you want.”
Who’s Backing Musk?
The group behind this takeover attempt includes:
- Baron Capital Group Inc.
- Valor Management LLC
- Atreides Management, LP
- Vy Fund III L.P.
- Emmanuel Capital Management LLC
- Eight Partners VC LLC
While some names are less familiar, most of these firms have deep ties to Musk’s business empire.
- Baron Capital Group, led by Ron Baron and his son Michael, has made major investments in Tesla and SpaceX through its Baron Partners Fund.
- Atreides Management, founded by Gavin Baker, has a history with Musk, backing both Tesla and SpaceX. Baker has also been a vocal supporter of Musk’s record-breaking Tesla compensation package.
- Valor Management, run by Antonio Gracias, is another close ally. Gracias was an early investor in SpaceX, sat on Tesla’s board, and backed SolarCity before Tesla acquired it.
- Vy Capital, founded by Alexander Tamas, has invested in multiple Musk ventures, including The Boring Company and Neuralink.
- Eight Partners VC, better known as 8VC, is led by Joe Lonsdale—a well-known Musk supporter. Lonsdale recently called himself “a huge fan” of Musk’s DOGE on CNBC, an interview Musk later reposted on X.
A Real Offer or Just a Power Move?
It’s unclear how serious Musk and his investor group are about this takeover. Some analysts speculate that the bid is less about actually buying OpenAI and more about strategically disrupting Altman’s restructuring plans. By pushing up the price, Musk could be making it harder for Altman and his team to secure OpenAI’s assets as they transition away from its original nonprofit model.
Musk, who was one of OpenAI’s original co-founders, has been a vocal critic of the company’s shift in direction under Altman. This latest move signals he’s not done challenging the future of OpenAI just yet.