Sam Altman Declines Musk’s OpenAI Bid, Considers $9.74B Twitter Acquisition Instead

Elon Musk recently announced plans to unite a consortium of investors in a bid to acquire all of OpenAI’s assets for $97.4 billion. In the acquisition proposal submitted to OpenAI’s board of directors, Musk stipulated that the offer would remain valid until May 10 of this year. Furthermore, he stated that unless OpenAI formally rejects the proposal in writing or both parties mutually agree in writing to terminate negotiations, the offer would not be withdrawn.

In a separate statement, Musk asserted that should OpenAI’s board prevent the company from becoming primarily profit-driven, he would rescind the acquisition proposal.

However, Sam Altman responded earlier via the “X” platform, politely declining the offer and hinting at the possibility of acquiring Twitter for $9.74 billion instead.

no thank you but we will buy twitter for $9.74 billion if you want

— Sam Altman (@sama) February 10, 2025

In a legal filing submitted shortly thereafter, OpenAI formally rejected Musk’s acquisition proposal. The company also highlighted the inconsistency in Musk’s stance, noting that he had previously opposed OpenAI’s transition into a profit-oriented enterprise. OpenAI further referenced a prior injunction Musk had filed in court, arguing that as a company originally established for public benefit, OpenAI’s assets should not be transferred for private gain—a position seemingly at odds with his current acquisition attempt.

Additionally, OpenAI contended that should Musk gain control of the company, he would inevitably transfer its assets under his ownership, leveraging them to benefit himself, his affiliated companies, or private venture capital partners. The company emphasized that Musk’s acquisition bid ultimately underscored his intent to eliminate a formidable competitor from the market.

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