Elon Musk Dismisses OpenAI Equity as ’Fake’—But Dodges SpaceX Token Questions

Elon Musk just dropped a truth bomb on OpenAI's equity structure—calling it outright 'fake'—while conveniently sidestepping any mention of SpaceX's rumored token plans. The tech mogul's silence speaks louder than words as crypto speculators scramble for crumbs.

The OpenAI Equity Smackdown

Musk didn't mince words when addressing OpenAI's valuation model, leaving investors questioning the foundation of the AI giant's financial scaffolding. No numbers? No problem—the implication alone sent shockwaves through tech circles.

The SpaceX Token Elephant in the Room

Meanwhile, SpaceX's potential crypto play remains shrouded in mystery. Musk's evasion fuels speculation that even billionaires fear SEC scrutiny—or worse, another Dogecoin-style hype cycle with actual rockets involved.

The Bottom Line

When the world's richest man calls your equity fake but won't touch his own token rumors, grab popcorn—and maybe short some AI stocks while you're at it. After all, in Silicon Valley, 'fake it till you make it' isn't just a mantra—it's a business model.

TLDR

• Elon Musk stated that OpenAI equity is fake following a warning from the company about misleading token use.
• OpenAI clarified that tokens tied to its name on Robinhood do not represent real equity in the company.
• Musk did not comment on Robinhood’s inclusion of a token offering indirect exposure to SpaceX.
• Robinhood explained that the tokens offer access to private assets but are not formal equity instruments.
• The OpenAI brand remains central to the ongoing discussion about tokenized assets and investor perception.

Elon Musk dismissed the legitimacy of OpenAI equity after the company issued a warning about misleading token representations. He commented on the matter following confusion tied to Robinhood’s stock token campaign involving OpenAI tokens. While Musk challenged OpenAI’s structure, he remained silent about the inclusion of SpaceX tokens on the same platform.

Elon Musk Challenges OpenAI’s Corporate Direction

Elon Musk labeled OpenAI equity as fake, underscoring his continued opposition to the company’s shift toward a for-profit model. He has criticized OpenAI’s structure since it transitioned to a nonprofit, arguing it broke its founding mission. According to Musk, the organization now favors profit-driven decisions over the public interest.

OpenAI recently issued a statement clarifying that its tokens linked to Robinhood do not reflect absolute equity ownership. This clarification follows growing confusion around token giveaways that used the OpenAI name without formal backing. The company emphasized that OpenAI remains privately held and does not issue public tokens.

Despite the criticism, OpenAI continues to develop commercial tools and FORM partnerships with major firms. Musk’s remarks reflect longstanding concerns over OpenAI’s governance and investor influence. His silence on Robinhood’s exposure to SpaceX assets contrasts with his vocal stance on OpenAI’s operations.

Your “equity” is fake

— Elon Musk (@elonmusk) July 2, 2025

Robinhood Advances Tokenized Equity Access

Robinhood’s CEO explained that the token giveaways aim to create exposure, though they are not direct equity instruments. The platform issued tokens for several private companies, including one linked to OpenAI and another referencing SpaceX. These tokens are currently available only to European investors outside U.S. jurisdiction.

At our recent crypto event, we announced a limited Stock Token giveaway on OpenAI and SpaceX to eligible European customers. While it is true that they aren’t technically “equity” (you can see the precise dynamics in our Terms for those interested), the tokens effectively give…

— Vlad Tenev (@vladtenev) July 2, 2025

Robinhood collaborates with other trading platforms to support the global tokenization trend in equity markets. It launched these offerings with support from Bybit and Kraken to broaden access to private company exposure. Despite criticism, OpenAI remains a key part of this narrative due to its brand value.

The inclusion of OpenAI tokens sparked interest, although the company publicly disavowed any association. Robinhood continues promoting tokenization, seeing it as a pathway for retail engagement. OpenAI’s name in this campaign intensified scrutiny, especially following Musk’s recent statements.