Musk lawyer says ruling sets a ‘new formula for Silicon Valley'

Jessica Rajan, Published on May 19th, 2026

Musk lawyer says ruling sets a ‘new formula for Silicon Valley'

After losing the case, Elon Musk's lawyer Marc Toberoff said the ruling could encourage startups that begin as nonprofits to later form for-profit entities to raise funds, scale, and enrich their executives. He called it a "brand new formula for Silicon Valley." Musk said he will appeal and reiterated that Sam Altman saw OpenAI as a means to significant wealth.

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