OpenAI removes Sam Altman's ownership of its Startup Fund

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The change came after Altman's ownership of Fund raised eyebrows for its unusual structure

- 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.

 

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