US senators have expressed concerns about OpenAI CEO Sam Altman’s $1 million contribution to President-elect Donald Trump’s inauguration fund.
This investigation highlights concerns about corporate influence over political processes, especially from technology and cryptocurrency companies.
US Lawmakers Investigate Corporate Contributions to Trump’s Inaugural Fund
In a January 17 letter to Sam Altman, US senators Elizabeth Warren and Michael Bennett asked OpenAI for details about Altman’s recent donation to Trump’s inauguration fund.
Lawmakers said major tech companies, including OpenAI, Microsoft, Google and Amazon, have contributed millions to the fund in the past two months. Notably, cryptocurrency companies such as Ripple, Coinbase, Kraken, Robinhood and Circle have reportedly contributed around $10 million to the Trump fund.
These funds are expected to support high-profile inauguration events, reflecting optimism in the digital asset sector. The industry sees the incoming Trump administration as a potential ally in pushing for long-standing regulatory changes that could spur continued growth for the cryptocurrency sector.
However, lawmakers have expressed concerns about the potential motives behind these donations. They question whether the contributions are a way to influence the new administration’s policies or ease regulatory challenges.
Several sponsoring companies, such as Amazon, Google, Microsoft, and Ripple are currently under federal investigation for various legal issues.
“These contributions raise questions about corruption and the influence of corporate finance on the Trump administration, and Congress and the public deserve answers,” the lawmaker declared.
US lawmakers have expressed concerns that these contributions could compromise regulatory oversight. They emphasized that financial support could become a leverage tool amid ongoing legal battles and investigations involving these companies.
“The industry’s efforts show that Big Tech companies are trying to curry favor and avoid the rules. This will be good for billionaire tech executives, but bad for America: if left unchecked, Big Tech corporations will threaten the rights of consumers, acting harshly. brutalize workers and stifle competition while stifling innovation,” the lawmakers wrote.
Considering this, lawmakers asked for specific details about the donation. This includes whether OpenAI’s board approved the donation, the identities of those involved, and any communications with Trump’s transition team. They set a deadline of January 31, 2025 to receive a comprehensive response.
However, Altman clarified that the donation was personal. In a January 17 tweet, he expressed confusion over the investigation, say:
“It was a personal donation… my company did not make the decision.”