Elon Musk recently reacted to OpenAI’s statement that “OpenAI tokens” don’t represent real equity, calling the company’s actual equity “fake.” Musk has long criticized OpenAI’s shift from a nonprofit to a for-profit model, asserting that it deviates from the organization’s founding principles focused on public benefit and transparency. His comments highlight ongoing concerns over OpenAI prioritizing investor returns and commercial partnerships over its original mission. In response, Robinhood CEO Vlad Tenev clarified that their stock tokens, part of a giveaway linked to OpenAI, are not technically equity but do provide investors with effective exposure to private assets. Tenev’s remarks emphasize the broader trend of tokenization in financial markets, allowing non-US investors to trade tokenized versions of U.S. stocks through platforms like Robinhood. This situation underscores the evolving landscape of investment and equity representation in technology ventures.
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