OpenAI removes Sam Altman's ownership of its Startup Fund
© Reuters. FILE PHOTO: Sam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. REUTERS/Denis Balibouse/File Photo - OpenAI has changed the governance structure of its venture capital fund that backs AI startups, so its high profile chief executive Sam Altman no longer owns or controls the fund, according to a filing with the US Securities and Exchange Commission .
Axios first reported on the ownership change on Monday. In a statement, a spokesperson for OpenAI said the fund's initial general partner structure was a temporary arrangement, and"this change provides further clarity."Control of the fund has been moved over to Ian Hathaway, a partner at the fund since 2021, according to the filing. Altman will no longer be a general partner at the fund.
Altman, a former president at startup accelerator Y Combinator, has previously drawn scrutiny on his sprawling investment interest outside OpenAI, from crypto startup Worldcoin to fusion company Helion Energy, as well as fundraising activities in the Middle East.
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