Two of the biggest IPOs in history are taking each other to federal court
Elon Musk is suing Sam Altman for $134 billion for fraud and unjust enrichment, per CNBCMusk co-founded OpenAI in 2015 as a nonprofit, but he walked away in 2018 after donating ~$38M Shortly after, OpenAI took a $1,000,000,000 check from Microsoft and went for-profitMusk says he was defrauded, meanwhile Altman says Musk knew and backed the conversionJury selection starts MondayIf Musk wins: the 'for-profit' structure gets unwound, Altman and Brockman are removed, and all "ill-gotten gains" go back to the nonprofitIf Musk loses: OpenAI goes public this year, battling SpaceX for the largest IPO in history
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