According to Forbes, Apple's legendary designer Jonathan Ive has received stock worth $715 million from OpenAI for the acquisition of his artificial intelligence hardware company, io. This deal is expected to push Ive's net worth above $1 billion in the coming years, potentially making him a billionaire.
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OpenAI announced last week that it will acquire Ive's company io through a full-stock transaction, with a valuation of $6.5 billion. According to Forbes' analysis, Ive holds an 11% stake in io, meaning he will receive approximately $715 million worth of OpenAI stock. However, insiders revealed that these stocks will take several years to fully vest with Ive. Additionally, the deal still needs approval from regulatory authorities.
Before founding io, Ive worked at Apple for nearly 30 years, responsible for the design of multiple iconic products and receiving substantial compensation as a result. Reports indicate that he also owns approximately $100 million worth of real estate assets and a design company named LoveFrom, which generates about $200 million in annual revenue. Steve Jobs, Apple's founder, once highly praised Ive, stating that his operational power at Apple ranked second only to himself.
Although Ive may already be a billionaire, his exact wealth remains unclear since his compensation during his time at Apple has never been publicly disclosed. According to U.S. Securities and Exchange Commission filings, Ive cashed out some shares between 2008 and 2011, with post-tax income estimated at $75 million.
So far, Ive has not made any public comments on this acquisition. Regardless, this deal marks another significant milestone in his career, potentially placing him among the ranks of global billionaires.
Key points:
💰 Ive will receive $715 million worth of stock due to OpenAI's acquisition of his company io.
🏢 The deal is valued at $6.5 billion, with Ive holding an 11% stake.
📈 Net worth is expected to exceed $1 billion in the coming years, potentially making him a billionaire.