OpenAI CEO Rejects Musk’s $97.4 Billion Offer: “We’re Not For Sale”

by THEFUTURE.TEAM

February 12, 2025

OpenAI, the company behind the groundbreaking ChatGPT, continues to reject a $97.4 billion offer from a consortium of investors led by Elon Musk. While OpenAI is not publicly traded, it operates under a complex structure that merges both non-profit and for-profit arms. Musk, one of the co-founders, has stated his intention to steer OpenAI back to its non-profit roots, prioritizing the development of AI to benefit humanity.

However, the timing of his bid raises questions, especially considering that Musk also owns xAI, a direct competitor to OpenAI.

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Speaking to Axios, Sam Altman, OpenAI’s CEO, described Musk as a competitor unable to outpace OpenAI in the market, thus resorting to a bid “with total disregard for the mission.”

Despite Musk’s offer, the decision over OpenAI’s future isn’t solely in Altman’s hands. Altman, who also sits on the non-profit’s board, has made it clear he does not hold any stock in the company. His vision for OpenAI’s future involves transitioning to a fully for-profit model to attract more funding for AI research.

However, OpenAI’s board will ultimately decide, and if Musk raises his offer, they may be swayed. The current bid of $97.4 billion is far below OpenAI’s valuation of $157 billion from its most recent funding round in October. Recent talks suggest OpenAI’s value has soared to $300 billion.

Musk’s attorney, Marc Toberoff, stated that the consortium is open to increasing the bid. He also asserted that, as a co-founder and tech leader, Musk is the best candidate to protect and grow OpenAI’s technology.

Musk has been building other AI ventures too, including a collaboration with Oracle, a Japanese investment firm, and an Emirati sovereign wealth fund to develop the Stargate Project—an ambitious $500 billion AI infrastructure initiative in the US.

The project, which was announced at the White House, has attracted attention as the “largest AI infrastructure project in history.” Despite this, Musk, who is a key advisor to former President Donald Trump, has claimed that the project does not have the financial backing it claims, though he has provided no details to back up the assertion.

With such high stakes, the unfolding drama over OpenAI’s future is far from over, and it’s clear that Musk’s bid is only the beginning of a complex and multifaceted competition in the AI space.

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Strained Household Finances: Eurostat Data Reveals Persistent Payment Delays Across Europe and in Cyprus

by THEFUTURE.TEAM

November 22, 2025

Improved Financial Resilience Amid Ongoing Strains

Over the past decade, Cypriot households have significantly increased their ability to manage debts—not only bank loans but also rent and utility bills. However, recent Eurostat data indicates that Cyprus continues to lag behind the European average when it comes to covering financial obligations on time.

Household Coping Strategies and the Limits of Payment Flexibility

While many families are managing their fixed expenses with relative ease, one in three Cypriots struggles to cover unexpected costs. This delicate balancing act highlights how routine payments such as mortgage installments, rent, and utility bills are met, but precariously so, with little room for unplanned financial shocks.

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Breaking Down Payment Delays Across the European Union

Eurostat reports that nearly 9.2% of the EU population experienced delays with their housing loans, rent, utility bills, or installment payments in 2024. The situation is more acute among vulnerable groups: 17.2% of individuals in single-parent households with dependent children and 16.6% in households with two adults managing three or more dependents faced payment delays. In every EU nation, single-parent households exhibited higher delay rates compared to the overall population.

Cyprus in the Crosshairs: High Rates of Financial Delays

Although Cyprus recorded a notable 19.1 percentage point improvement from 2015 to 2024 in delays related to mortgages, rent, and utility bills, the island nation still ranks among the top five countries with the highest delay rates. As of 2024, 12.5% of the Cypriot population had outstanding housing loans or rent and overdue utility bills. In contrast, Greece tops the list with 42.8%, followed by Bulgaria (18.7%), Romania (15.3%), Spain (14.2%), and other EU members. Notably, 19 out of 27 EU countries reported delay rates below 10%, with Czech Republic (3.4%) and Netherlands (3.9%) leading the pack.

Selective Improvements and Emerging Concerns

Between 2015 and 2024, the overall EU population saw a 2.6 percentage point decline in payment delays. Despite this, certain countries experienced increases: Luxembourg (+3.3 percentage points), Spain (+2.5 percentage points), and Germany (+2.0 percentage points) saw a rise in payment delays, reflecting underlying economic pressures that continue to challenge financial stability.

Economic Insecurity and the Unprepared for Emergencies

Another critical indicator explored by Eurostat is the prevalence of economic insecurity—the proportion of the population unable to handle unexpected financial expenses. In 2024, 30% of the EU population reported being unable to cover unforeseen costs, a modest improvement of 1.2 percentage points from 2023 and a significant 7.4 percentage point drop compared to a decade ago. In Cyprus, while 34.8% still report difficulty handling emergencies, this marks a drastic improvement from 2015, when the figure stood at 60.5%.

A Broader EU Perspective

Importantly, no EU country in 2024 had more than half of its population facing economic insecurity—a notable improvement from 2015, when over 50% of the population in nine countries reported such challenges. These figures underscore both progress and persistent vulnerabilities within European households, urging policymakers to consider targeted measures for enhancing financial resilience.

For further insights and detailed analysis, refer to the original reports on Philenews and Housing Loans.

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