NEWS: Sam Altman is now under official investigation for using OpenAI to boost his personal wealth.
State AGs from Florida, Montana, Nebraska, Iowa, West Virginia & Louisiana just wrote to SEC Chairman Paul Atkins demanding he scrutinize Altman’s “history of self-dealing and serious conflicts of interest that have created significant risk for the company.”
Altman has ZERO direct equity in OpenAI. As the AGs noted, “his personal financial interests have only limited alignment with OpenAI’s financial performance.” He gets to play with other people’s money and the company’s future while protecting his own side deals.
Meanwhile, House Oversight Chair James Comer is demanding documents on Altman’s personal investments that conflict with OpenAI.
$852 BILLION valuation. Unreleased conflict audits. History of getting briefly ousted over these exact issues. And they want to take this public?
It’s a flashing red warning for investors and the public.
Regulators and lawmakers are finally paying attention. About time.