OpenAI Restructure - San Francisco Foundation

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# News Round-Up: Challenging OpenAI restructure as for-profit company

### News Round-Up: Challenging OpenAI restructure as for-profit company

October 30, 2025 [San Francisco Foundation](http://sff.org/)

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_OpenAI recently announced its new for-profit structure. [EyesOnOpenAI](https://www.eyesonopenai.org/) – a coalition that SFF helps lead – commended California Attorney General Bonta for listening to our concerns and demonstrating a commitment to enforcing fiduciary duties and addressing conflicts of interest. However, the coalition has ongoing concerns about the lack of nonprofit independence and how OpenAI’s assets were valued._

_Read news coverage of the announcement below:_

**TIME: [A Timeline of the Battle for OpenAI: Musk, Altman, and the For-Profit Shift](https://time.com/7328674/openai-chatgpt-sam-altman-elon-musk-timeline/)**

After almost a year of negotiations, OpenAI [announced](https://openai.com/index/built-to-benefit-everyone/) Tuesday that it has completed its restructure to a public benefit corporation, with a separate nonprofit Foundation focused on “health and curing diseases” and “technical solutions to AI resilience” holding a $130 billion stake in the for-profit arm—just shy of the $135 billion stake that Microsoft received, which it [said](https://blogs.microsoft.com/blog/2025/10/28/the-next-chapter-of-the-microsoft-openai-partnership/) represented 27% ownership.

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**Politico: [OpenAI gets green light from California for multibillion-dollar makeover, but still faces hurdles](https://www.politico.com/news/2025/10/28/openai-business-restructuring-california-00625383)**

ChatGPT maker OpenAI announced a major victory on Tuesday, gaining the blessing of the attorneys general in California and Delaware to complete its controversial, multi-billion dollar business restructuring after months of intense public scrutiny.

\[…\] “We have been clear and consistent in our requests of the attorney general – a fair and independent valuation of the assets accumulated under the nonprofit and independent governance of those assets,” said Judith Bell, the chief impact officer at the San Francisco Foundation, in a statement.

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**San Francisco Examiner: [OpenAI restructuring marks seismic shift in industry landscape](https://www.sfexamin

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