Here is your Forbes Daily Briefing for Monday, May 26th. Today on Forbes, Apple Design Guru

Johnny Ive, set to become a billionaire thanks to Open AI deal. The man who designed the iPhone

is about to join Forbes's billionaires list. Last Wednesday, OpenAI announced that it's acquiring legendary Apple designer

Johnny Ives' artificial intelligence hardware startup, I.O., in an all-stock deal that values

the company at $6.5 billion, and will likely push Ives' net worth to 10 digits in the coming years.

Forbes estimates that I've owns 11% of I.O. and is set to receive shares of OpenAI worth $715 million, though the stock won't

fully vest for several years, according to a source familiar with the matter. The deal is subject

to regulatory approval. Before launching I.O. last year,

I've spent nearly three highly compensated decades at Apple designing its products. He also has a

real estate empire worth an estimated $100 million net of debt, and a design firm called Love From

that does around $200 million of annualized revenue.

Ive, who Steve Jobs once said had, quote, more operational power than anyone else at Apple except

me, may already be a billionaire, though it's hard to know for sure. That's because his 27 years of

Apple pay packages were never publicly disclosed.

His shareholdings did briefly appear in SEC filings covering a four-year period from 2008 to 2011,

during which time he cashed in stock he received his compensation for an estimated $75 million

after taxes. I've declined to comment for this story.

Details of what exactly they're building are sparse, but the I.O. acquisition seems to be a key part

of OpenAI strategy to build new AI-powered hardware devices. According to a video I've appeared in,

with OpenAI co-founder and billionaire CEO Sam Altman released last Wednesday, the day the agreement was announced. In the video,

the 58-year-old I've said, quote, we are sitting at the beginning of what I believe is the greatest

technological revolution of our time. I have a growing sense that

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