The frontman for artificial intelligence innovation has pledged to donate half of his wealth to technological enterprises as part of a campaign chaired by Bill Gates and Warren Buffet.
Pledging Half His Fortune
OpenAI CEO and artificial intelligence innovator Sam Altman will donate half of his fortune to charitable causes, according to an announcement by the Giving Pledge on Tuesday.
The Giving Pledge
Altman is the next in a line of wealthy philanthropists promising half of their wealth to charity via the Giving Pledge, a charitable campaign founded by prolific billionaires Bill Gates and Warren Buffet.
A Letter to the Public
On the campaign’s official website, it shared a letter written by Altman and his husband Oliver Mulherin on May 18th.
Building the Scaffolding of Society
“We would not be making this pledge if it weren’t for the hard work, brilliance, generosity, and dedication to improve the world of many people that built the scaffolding of society that let us get here,” the letter read.
“Pay It Forward”
“There is nothing we can do except feel immense gratitude and commit to pay it forward, and do what we can to build the scaffolding up a little higher,” it continued.
Creating Abundance
They then added that they plan to focus on supporting technology which would “help create abundance for people” though they did not elaborate on what technological industries they will focus on.
$2 Billion Net Worth
Back in March this year Altman’s net worth was reported to sit at $2 billion, according to Bloomberg, which would set his contribution at $1 billion. However, this was not the result of his role as CEO of OpenAI, the company behind the pioneering ChatGPT AI chatbot.
No Equity in OpenAI
Despite his company being valuated at $86 billion, Altman has long claimed that he has no equity in the company.
Details of His Wealth
Instead, his wealth is believed to be connected to a chain of investments in VC funds and startups. Details of Mulherin’s net worth are not available.
A Difficult Six Months
The announcement is a positive headline for Altman and OpenAI, after a difficult six months in the spotlight, starting with his removal and eventual reinstatement as CEO in November last year.
Breakdown in Relationships at OpenAI
The initial decision to usurp his position sparked an investigation that was described as the “consequence of a breakdown in the relationship and loss of trust,” sparking questions of internal conflict amongst leadership and the board of directors at the world’s foremost AI research organization.
Musk Files Suit
In March, Tesla and X CEO Elon Musk – who was a co-founder of OpenAI with Altman – filed suit against the company, accusing Altman of causing OpenAI to “radically depart from its original mission.”
Other Lawsuits Flood in
However, the suit by Musk is just the latest in a slew of lawsuits and formal accusations levied against the company, most of which accuse the company of violating copyright and illegally using copyrighted work to train their large language models. Now, a famous celebrity has made the company’s legal woes even more visible.
Accused of Copying a Voice
Earlier this month Hollywood actress Scarlett Johannson accused OpenAI – and Altman specifically – of copying her voice for the latest update of ChatGPT’s voice assistant.
Shock, Anger, Disbelief
Johannson expressed that she was “shocked, angered and in disbelief” over the chatbot voice, which she claimed sounded “eerily similar” to her own in a public statement.
Altman Denies It
Though both Altman and the company strenuously denied the allegation in public statements, they later dropped the use of the voice, named “Sky,” after the actress threatened legal action.
A Positive Move
In the midst of increasing controversy and scrutiny, Altman’s inclusion in the Giving Pledge appears to be a step in the right direction.
No Legal Commitment
However, though the purpose of the campaign is to get the world’s wealthiest people to financially commit to philanthropic and humanitarian causes, these pledges are not legally binding in any way.
Aim of the Campaign
Instead, it aims to “help shift the social norms of philanthropy among the world’s wealthiest and inspire people to give more, establish their giving plans sooner, and give in smarter ways.”
245 Signees Already Committed
So far the campaign has garnered signatures and pledges from 245 couples and individuals from over 30 different countries.
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The post – OpenAI Chief Sam Altman Commits Half His Wealth to Gates/Buffet Charity – first appeared on Liberty & Wealth.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
