GOP State Attorneys General Ask SEC to Review Sam Altman's Business Dealings -- WSJ

Dow Jones

May 12

By Philip Wegmann

Several GOP attorneys general are calling for a Securities and Exchange Commission review of OpenAI CEO Sam Altman's personal investments as the company heads for an initial public offering.

The Republicans argue in a letter, reviewed by The Wall Street Journal, that Altman's deals with companies he invests in could pose conflict-of-interest concerns because OpenAI's involvement could boost the value of the other companies. The move follows-and the letter cites-an April article in the Journal that detailed Altman's efforts to have OpenAI back companies he personally invested in.

The attorneys general from Florida, Montana, Nebraska, Iowa, West Virginia and Louisiana said Altman "has a history of self-dealing and serious conflicts of interest that have created significant risk for the company."

Altman is also under scrutiny from House Republicans. The House Oversight Committee on Friday sent a letter to Altman requesting a briefing from a top executive about potential conflicts of interest and documents outlining the company's governance practices, according to a copy the committee posted to its website Monday. It also cited the Journal's reporting.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

May 12, 2026 09:54 ET (13:54 GMT)

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