Recently, news of SK Hynix employees receiving an average bonus of 6.1 million RMB made headlines across the internet. However, compared to the stock sale by OpenAI employees, that figure might seem modest.

Last October, OpenAI completed a remarkably large employee stock sale. According to reports, over 600 current and former employees collectively cashed out $6.6 billion (approximately 48 billion RMB) in this transaction. Among them, about 75 individuals reached the maximum allowable amount—$30 million each.

This marked the first large-scale cash-out event after OpenAI raised the per-person sale cap from the previous $10 million to $30 million. Sources indicate this cap adjustment was made in response to investor demand.

The timing is also noteworthy: OpenAI requires employees to hold their shares for two years before selling. This means for many employees who joined after the launch of ChatGPT, this sale was their first opportunity to convert paper wealth into real cash.

**A 100x Return in 7 Years: Cashing in a "Lottery Ticket"** OpenAI first granted equity to employees seven years ago. Reports suggest the current paper value of these shares has grown over 100-fold for those holding them.

For context, the Nasdaq Composite Index rose roughly threefold over the same period.

OpenAI is currently the world's highest-valued tech startup, with its latest funding round implying a valuation of $852 billion.

This pace of wealth creation is rare even in tech industry history. While hundreds of companies went public during the dot-com bubble, most employees had to wait a significant time after the IPO to sell shares, with some losing everything after the bubble burst. This time, OpenAI employees have executed a massive cash-out before the company has even gone public.

**A $30 Million Ceiling, Yet Some Find It "Too Low"** While the sale cap was set at $30 million per person, for some top researchers and engineers, this amount is still insufficient.

Previously, OpenAI's $10 million cap had already caused dissatisfaction among some core employees who "theoretically could sell more."

On the compensation front, OpenAI's offers are equally aggressive. According to its website, some technical roles offer annual salaries exceeding $500,000. Last August, it was reported that OpenAI distributed one-time bonuses to some staff, reaching several million dollars.

Last year, Meta offered compensation packages as high as $30 million to retain top AI researchers. The talent war across the AI industry has pushed compensation to levels rarely seen in modern tech history.

**The Wealth Effect: Rising San Francisco Rents and Philanthropy** The $6.6 billion cash-out is more than just a number.

This wave of wealth is driving up rents in San Francisco and raising concerns about widening wealth inequality within the city.

Some employees have chosen a different path for their windfall—placing remaining shares into Donor-Advised Funds (DAFs). These are charitable investment accounts where funds are committed for philanthropic use while offering tax deductions for the year of contribution. Reports indicate that some regular employees, who never expected such wealth, have also begun donating.

At the executive level, the scale of wealth is even more staggering. OpenAI President Greg Brockman testified in court this week that his equity stake is worth approximately $30 billion. CEO Sam Altman has stated he holds no company shares, citing the company's non-profit origins. However, some investors reportedly expect he may receive equity if he prevails in the legal dispute with Elon Musk regarding OpenAI's transformation.

**The IPO Hasn't Arrived Yet; A Greater Wealth Effect Awaits** This cash-out is merely a preview.

Both OpenAI and Anthropic are preparing for their respective IPOs, which are expected to be among the largest in tech history. When that happens, thousands of ordinary employees will have the chance to sell shares, with many becoming multi-millionaires overnight.

One report characterized this sale as "a preview of the wealth flood about to pour into San Francisco and other tech hubs."

**Contrast with the SK Hynix Story** The 6.1 million RMB bonus for SK Hynix employees is built on a semiconductor super-cycle and a successful bet on HBM technology, reflecting broader industry cycles. In contrast, the wealth of OpenAI employees stems from the valuation explosion of a single company riding the AI wave—and that company's door to public markets has yet to open.