Sam Altman has indirect equity in OpenAI through the YC fund, which is Y Combinator.

“Sam Altman has repeatedly and publicly stated, including in Senate testimony, that he holds no direct equity in OpenAI. However, Y Combinator was an early investor in OpenAI when it was founded. As the former president of Y Combinator (from 2014 to 2019), Altman had a financial interest in its funds, which included the one that invested in OpenAI. Therefore, while he does not own shares directly, he has had an indirect financial interest in the company through his stake in YC's funds. Context: Altman's lack of direct equity is a key part of OpenAI's narrative, intended to show he is motivated by the mission rather than personal profit. The distinction between direct and indirect equity is significant, as the latter still represents a financial connection to the company's success.”