OpenAI CEO Sam Altman and Husband Pledge to Donate Half Their Wealth
The Giving Pledge recently announced that OpenAI CEO Sam Altman joined its list of philanthropists who have pledged to donate over half their fortunes.
OpenAI, as a company, is all about how artificial general intelligence (AGI) can benefit humanity. In the same way, CEO Sam Altman recently announced his intent to donate a majority of his wealth to philanthropic causes. He joins dozens of other billionaires who have contributed hundreds of millions of dollars over many years.
In early May, the 39-year-old Altman and his husband, Oliver Mulherin, said the money would support technology that "helps create abundance for people,” according to a letter in the Giving Pledge.
"We would not be making this pledge if it weren’t for the hard work, brilliance, generosity, and dedication to improving the world of many people that built the scaffolding of society that let us get here," the Giving Pledge letter read. "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."
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The Giving Pledge
In 2010, Bill Gates, Melinda French Gates and Warren Buffet founded the Giving Pledge to foster a culture of philanthropy and humanitarianism among the world’s wealthiest people. More than 240 people from 30 countries have pledged to give most of their wealth (more than 50%) to philanthropic causes.
The majority of Giving Pledge signatories are billionaires, and as of 2023, their pledges were estimated at a total of U.S. $600 billion. However, critics argue that signing a letter of intent to give is not a formal commitment. There are also no restrictions in place designating which charitable causes are allowed.
A tumultuous six months for Altman and OpenAI
The past half-year has been rather rabid for Altman, as his donation comes on the heels of his removal and subsequent reinstatement as CEO of the San Francisco-based company behind ChatGPT, which stunned the industry as infighting nearly sunk one of the most vocal voices on artificial intelligence.
Today, Altman's net worth is easily $2 billion, thanks to several startup investments, like the fusion power company Helion Energy and Retro Biosciences, the Biotech company working to increase the average human lifespan by another ten years, according to a report in Forbes. Altman has also invested over $60 million in Reddit since 2014. It is unclear how much money Altman and Mulherin will donate or which organizations the money will go to.
Related Content
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
For the past 18+ years, Kathryn has highlighted the humanity in personal finance by shaping stories that identify the opportunities and obstacles in managing a person's finances. All the same, she’ll jump on other equally important topics if needed. Kathryn graduated with a degree in Journalism and lives in Duluth, Minnesota. She joined Kiplinger in 2023 as a contributor.
-
Focus on These Five Critical Areas in Retirement Planning
Worried about how you'll pay for your retirement? It can help to structure your finances around five key areas: taxes, income, medical, legacy and investments.
By Gaby C. Mechem Published
-
Is Downsizing Right for Your Retirement?
The lower costs of a smaller home in retirement might sound appealing, but be ready for the trade-offs that come with making this big decision.
By Lena McQuillen, CFP® Published