Endeavor chief executive Ari Emanuel has officially hit billionaire status after shares in the huge media agency soared over the past 12 months.
Bloomberg’s Billionaire Index crowned Emanuel with the elite status last week, together with his gain in wealth largely as a consequence of his well-performing stake in Endeavor, which was the primary Hollywood agency to go public.
Executives at the corporate claimed they were shortchanged while Emanuel cashed out big on the IPO, The Post previously reported.
He received a roughly $84 million pay package in 2024 from his salary, bonus and stock awards. As of June 2023, he had an roughly 12.3% stake in the corporate, in line with a regulatory filing.
Shares in Endeavor rose greater than 45% over the past 12 months, having fun with a lift from UFC and WWE, which Endeavor owns through TKO Holdings.
The stock dipped about 0.9% on Monday, trading at $35.17 a share.
Emanuel’s latest billionaire standing comes as he has thrown himself into the battle between Elon Musk and Sam Altman because the two wealthy techies fight for control of OpenAI.
Last week, Emanuel was a part of a bunch of investors led by Musk that made a shocking $97.4 billion bid to take over the bogus intelligence firm.
The unsolicited buyout offer was Musk’s latest move in a yearslong legal battle with Altman, OpenAI’s chief executive, as he has tried to dam OpenAI from switching to a for-profit company.
During an interview with the “Freakonomics Radio Live” show, Emanuel claimed he was siding with Musk over safety concerns plaguing OpenAI.
“There’s been a mass exodus of OpenAI’s top people charged with AI governance because Sam was prioritizing ‘shiny objects’ over safety,” Emanuel told the radio show, in line with The Hollywood Reporter.
His involvement could signal a shift in Hollywood toward latest AI models.
In December, OpenAI unveiled Sora, its AI-powered video generation model that may create realistic clips from just just a few sentences.
OpenAI’s board unanimously rejected the offer, and Altman doubled down that the firm is “not on the market.”
“Probably his [Musk’s] whole life is from a position of insecurity,” Altman said during an interview with Bloomberg on the Paris AI summit. “I feel for the guy. I don’t think he’s a completely happy person.”
Emanuel criticized Altman’s comments, calling it a distraction from OpenAI attempting to move away from its nonprofit structure.
“All I say to you is: Sam said that Elon was ‘unhappy as an individual.’ Yeah, thanks in your evaluation!” he said sarcastically. “Elon is unhappy since you’re phony and attempting to get away with cheating the charity and its original mission. Elon isn’t.”
Musk co-founded OpenAI with Altman, but later cut ties with the firm in 2018 and launched his own rival company xAI.
He has been attempting to block the corporate from pursuing a for-profit structure in court.
“The consortium of investors led by Musk isn’t proposing to purchase the charity, OpenAI, but moderately its majority share of Altman and Microsoft’s for-profit OpenAI enterprise,” Emanuel told the radio show, saying he desired to make clear “miscommunications and misconceptions” coming from OpenAI.
Emanuel’s brother is Rahm Emanuel, the previous Biden and Obama White House official who recently took a job as a left-leaning pundit at CNN.
Endeavor chief executive Ari Emanuel has officially hit billionaire status after shares in the huge media agency soared over the past 12 months.
Bloomberg’s Billionaire Index crowned Emanuel with the elite status last week, together with his gain in wealth largely as a consequence of his well-performing stake in Endeavor, which was the primary Hollywood agency to go public.
Executives at the corporate claimed they were shortchanged while Emanuel cashed out big on the IPO, The Post previously reported.
He received a roughly $84 million pay package in 2024 from his salary, bonus and stock awards. As of June 2023, he had an roughly 12.3% stake in the corporate, in line with a regulatory filing.
Shares in Endeavor rose greater than 45% over the past 12 months, having fun with a lift from UFC and WWE, which Endeavor owns through TKO Holdings.
The stock dipped about 0.9% on Monday, trading at $35.17 a share.
Emanuel’s latest billionaire standing comes as he has thrown himself into the battle between Elon Musk and Sam Altman because the two wealthy techies fight for control of OpenAI.
Last week, Emanuel was a part of a bunch of investors led by Musk that made a shocking $97.4 billion bid to take over the bogus intelligence firm.
The unsolicited buyout offer was Musk’s latest move in a yearslong legal battle with Altman, OpenAI’s chief executive, as he has tried to dam OpenAI from switching to a for-profit company.
During an interview with the “Freakonomics Radio Live” show, Emanuel claimed he was siding with Musk over safety concerns plaguing OpenAI.
“There’s been a mass exodus of OpenAI’s top people charged with AI governance because Sam was prioritizing ‘shiny objects’ over safety,” Emanuel told the radio show, in line with The Hollywood Reporter.
His involvement could signal a shift in Hollywood toward latest AI models.
In December, OpenAI unveiled Sora, its AI-powered video generation model that may create realistic clips from just just a few sentences.
OpenAI’s board unanimously rejected the offer, and Altman doubled down that the firm is “not on the market.”
“Probably his [Musk’s] whole life is from a position of insecurity,” Altman said during an interview with Bloomberg on the Paris AI summit. “I feel for the guy. I don’t think he’s a completely happy person.”
Emanuel criticized Altman’s comments, calling it a distraction from OpenAI attempting to move away from its nonprofit structure.
“All I say to you is: Sam said that Elon was ‘unhappy as an individual.’ Yeah, thanks in your evaluation!” he said sarcastically. “Elon is unhappy since you’re phony and attempting to get away with cheating the charity and its original mission. Elon isn’t.”
Musk co-founded OpenAI with Altman, but later cut ties with the firm in 2018 and launched his own rival company xAI.
He has been attempting to block the corporate from pursuing a for-profit structure in court.
“The consortium of investors led by Musk isn’t proposing to purchase the charity, OpenAI, but moderately its majority share of Altman and Microsoft’s for-profit OpenAI enterprise,” Emanuel told the radio show, saying he desired to make clear “miscommunications and misconceptions” coming from OpenAI.
Emanuel’s brother is Rahm Emanuel, the previous Biden and Obama White House official who recently took a job as a left-leaning pundit at CNN.
