Sam Altman (personal portfolio + Hydrazine Capital)
Sam Altman — OpenAI CEO, ex-Y Combinator president; one of the most active angel investors of the era (100+ personal bets since 2010, plus the Hydrazine Capital funds he co-founded with brother Jack Altman in 2012).
The single most consequential personal AI-wave portfolio that is NOT primarily about its namesake company — Altman holds NO direct OpenAI equity (May 2026 court filings; only a since-sold fractional indirect YC/Sequoia-fund stake) and draws a ~$76k salary, so his wealth is his side bets. The thesis is energy-for-compute: his ~one-third stake in fusion startup Helion (chairman) and his role at fission startup Oklo are direct plays on the power bottleneck behind AI. Layered with biotech (Retro Biosciences) and a deep angel book (Stripe, Reddit, Instacart).
- Personal book — An individual's own capital, not a vehicle outside investors can access.
Top holdings
$0 confirmed — no direct Altman equity per the 2026 for-profit cap table and the May 2026 Musk-litigation court filings; he takes a ~$76k salary and his only OpenAI exposure was a since-sold indirect YC/Sequoia-fund stake. Speculative: a first-time equity grant has been periodically floated during the restructuring (unconfirmed, none vested as of Jul 2026) — at OpenAI's ~$852B valuation even a low-single-digit % would exceed his entire book, but it is not priced into this portfolio.
~$1.65-1.7B — Largest position. Invested since 2015; committed $375M in 2021; owns ~1/3, chairman. Helion last valued >$5.4B. Direct power-for-AI bet.
Chairman post-SPAC (May 2024) until stepping down Apr 2025 to clear OpenAI-Oklo conflict. Only listed name in his book.
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Our take
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