Altman Proposes 5% OpenAI Stake for US Wealth Fund
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- Sam Altman proposed donating 5% of OpenAI's equity to a U.S. sovereign wealth fund, with other AI companies expected to make similar contributions, per the Financial Times citing two people familiar.
- The proposal's stated purpose is to 'secure good relations with the administration and… address political blowback,' according to the FT's sources.
- President Trump confirmed earlier parallel discussions in June after CNBC first reported them, saying the goal was concepts 'where the American public essentially becomes a partner with the companies.'
- Formal action would likely require congressional approval, which the FT noted would 'significantly complicate' the preliminary talks.
- OpenAI's April policy paper 'Industrial Policy for the Intelligence Age' outlined a public wealth fund investing directly in AI labs and distributing returns 'regardless of [citizens'] starting wealth or access to capital.'
- Sen. Bernie Sanders (I-VT) introduced the American AI Sovereign Wealth Fund Act in June, proposing a one-time 50% tax on 'systemically important' AI companies — allowing Google and SpaceX to spin off non-AI units — but the bill has yet to advance to committee.
Why it matters: AI companies now face two competing equity-sharing tracks — Altman's voluntary 5% gesture aimed at placating the administration and Sanders' punitive 50% tax bill — and whichever framing wins in Congress will determine whether AI's economic upside flows to the public through voluntary goodwill or forced redistribution. The FT flags congressional approval as a major hurdle for Altman's version.
