MiniMax CEO Junjie Yan Vows to Take Zero Salary Until AGI, Gives Up 5% of Company Equity — Memo Lands With $2B Hong Kong Raise as Stock Down 80% From Peak

In a July 9 internal memo, MiniMax CEO Yan Junjie told staff he will forgo all salary from the company until MiniMax achieves AGI, and will transfer personal shares equal to 4% of the company's total equity to reward long-term team members plus 1% to an open-source developer fund. The pledge lands as MiniMax confirms a ~HK$16B (~$2B) share placement plus zero-coupon convertible bond to fund AI infrastructure, model R&D, global expansion and its 'Harness' agent products. Shares are down 80% from their post-IPO peak after an 18% drop Thursday and 12% early Friday as the post-IPO lock-up expired.