OpenAI CEO Sam Altman has made a generous donation of $200,000 to President Biden’s re-election campaign, according to federal documents. This notable contribution was sent in two transfers of $100,000 each to the Biden Victory Fund in mid-June, as reported by the Federal Elections Commission (FEC).
Altman’s charitable act took place just days before President Biden’s visit to San Francisco, where OpenAI, the leading artificial intelligence research lab, is headquartered. The President spent three days in the tech hub from June 14 to June 21, during which Altman’s donation was made.
The Biden Victory Fund has witnessed a surge in donations from affluent party members residing in California’s Bay Area, Chicago, New York City, and Washington, D.C. These significant donors play a crucial role in funding Biden’s campaign for the 2024 presidential election.
However, Biden’s small-dollar donations, which include contributions under $200, are trailing behind the fundraising numbers of previous Democratic campaigns, including his own successful 2020 campaign. According to the New York Times, small-dollar donations accounted for $10.2 million in Biden’s fundraising during the three-month period ending on June 30. This figure falls significantly short of the $21 million President Barack Obama received during the same period for his re-election campaign in 2012.
Contrasting with this, Biden’s campaign heavily relies on wealthy benefactors, with 10 major donors contributing over $500,000 each, and 82 others contributing a minimum of $100,000 each, as reported by the outlet.
In comparison, Republican frontrunners are amassing tens of millions of dollars through donations during the early stages of their campaigns. For instance, Florida Governor Ron DeSantis raised an impressive $20 million in the first six weeks of his campaign. Moreover, former President Donald Trump’s team reported a combined total of over $35 million between April and June, courtesy of the Trump campaign and Save America, his political action committee.
Top-level Biden officials attribute the slower pace of donations to the absence of a clear Republican opponent. They anticipate a surge in contributions once the Republican field narrows down to a single nominee.
According to Jeffrey Katzenberg, co-chairman of the Biden campaign, Right now there is no day-to-day competition combat going on. So these are the most loyal, most dedicated believers and supporters. It’ll build over time.
Altman’s donation to President Biden’s campaign reflects his support for the current administration and its policies. As the CEO of OpenAI, Altman’s contributions to the tech and artificial intelligence sector continue to make an impact. With OpenAI pioneering groundbreaking advancements in AI technology, Altman’s donation highlights his commitment to supporting political figures who prioritize technological innovation and its potential benefits for society.
As the 2024 presidential campaign progresses, it remains to be seen how fundraising efforts will evolve and whether Biden’s small-dollar donations will catch up to the contributions of previous Democratic campaigns. In the meantime, Altman’s philanthropic gesture serves as a testament to the influence of technology leaders in shaping the political landscape and promoting their favored causes.
