Many of us were introduced to Sam Altman when he was shockingly booted from OpenAI by its board in November 2023. The drama that unfolded over the following days and weeks was the stuff of corporate governance gold. But turns out there’s more. A recent article by the WSJ illustrates that when comes to conflicts of interest, transparency and proactive management are key to maintaining integrity and trust within an organization.

Altman, at the helm of the AI powerhouse valued at $86 billion, has chosen not to hold any equity in OpenAI. His modest salary of $65,000 stands in pretty stark contrast to his substantial personal wealth, which is through a vast investment portfolio. This portfolio includes stakes in over 400 companies, with some directly benefiting from OpenAI's success.

Altman's substantial investments in other tech ventures, such as Stripe, Airbnb, and Reddit, raise questions about potential conflicts. For instance, his involvement in Helion, a nuclear-energy startup, and other companies like Reddit and Apex Security, which have business dealings with OpenAI, showcases the complexity of his situation.

One of the primary ways to manage conflicts of interest is through full disclosure. Without it, stakeholders can struggle to assess how decisions might be influenced by personal interests.

There are many headlines like this (like when Lyft got fined $10 million for failing to disclose a pre- IPO stock deal that netted a member of its board millions of dollars; or the recent headlines around US Supreme Court Justices failing to disclose gifts).

At OneTrust our conflicts policy serves as a crucial tool to manage potential conflicts effectively. Conflicts can range from major investments to consulting with competitors to relationships.

Here are some examples of potential conflicts that you should disclose:

• Providing consultancy services that compete with OneTrust, or using OneTrust’s resources, including technology, equipment, or proprietary information.
• Your wife owns a greater than 5% interest in a company that competes with OneTrust
• Getting a promotion which makes you the supervisor of a team that includes the daughter of a close friend.

Not everything you disclose will be a conflict. Our team may be able to put controls in place in certain situations to mitigate the conflict risk. But it all starts with disclosure.

So don’t be a headline in a WSJ story. Instead, disclose, and let’s ensure we’re preserving trust and ensuring decisions are made in the best interests of the company.