The Sovereignty Share: Why OpenAI Is Offering 5% of Its Value to the U.S. Public Public Fund

 

Photo Credit:Financial Times

WASHINGTON, July 2 - The Financial Times reported on Thursday that OpenAI Chief Executive Officer Sam Altman has proposed donating 5% of OpenAI's equity to a U.S. sovereign wealth fund.

Citing two people familiar with the matter, the report stated that under the proposal, other artificial intelligence companies would donate similar stakes, although significant questions remain about the specifics. The Financial Times said the proposal was intended to improve relations with the administration while addressing political concerns.

The report noted that the current talks remain preliminary and that any formal action would likely require congressional approval.

CNBC reported similar discussions in June regarding a public wealth fund. President Donald Trump later confirmed those concepts, stating he had discussed frameworks where pieces could be given to the American public, essentially making the American public a partner with the companies. No specific size for the proposed equity stake was given during those initial discussions.

The concept of a public AI fund has been publicly discussed by Altman, and OpenAI outlined structural suggestions in an April policy paper titled “Industrial Policy for the Intelligence Age.” The document proposed a public wealth fund that could invest directly in AI labs and companies deploying their technology.

In its April policy paper, OpenAI wrote: “Returns from the Fund could be distributed directly to citizens, allowing more people to participate directly in the upside of AI-driven growth, regardless of their starting wealth or access to capital.”

Separately, Senator Bernie Sanders (I-VT) introduced an alternative framework in June under a bill called the American AI Sovereign Wealth Fund Act. The bill calls for a one-time 50% tax on the stock of certain AI companies, with the collected shares being deposited into a public wealth fund.

According to the text of the bill, the measure would apply to all “systemically important” AI companies, including those dealing with data centers, infrastructure, or robotics. The proposal would allow companies that include AI as only part of their business to spin off non-AI operations to avoid the tax. According to legislative tracking on Congress.gov, the bill has yet to advance to committee.

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TechCrunch (featuring primary reporting from the Financial Times, with secondary historical context from CNBC and legislative tracking via Congress.gov)

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