Trump's Unexpected Order: All US Citizens Could Become Wealthy

Jakarta, CNBC Indonesia - US President Donald Trump made an unexpected comment on Wednesday (10/6) local time, stating that technology giants developing artificial intelligence (AI) systems should agree to ‘give back’ to the public. Trump has long been known for his close ties to the technology industry, even fiercely defending their interests. He has threatened states that create their own AI regulations, believing such rules could hinder innovation. The public’s growing rejection of environmentally damaging AI data centre infrastructure has seemingly gone unaddressed by Trump, who has also appeared to turn a blind eye to ongoing layoffs and employment difficulties in the AI era. The technology industry significantly aided Trump’s 2024 presidential campaign, including providing substantial funding for his government programmes, which is suspected to be a factor in his frequent defence of the sector. Trump also previously delayed an executive order to regulate AI, and the policy released last week was considered ‘soft’ on the tech industry. Therefore, his statement about the importance of AI companies sharing their vast profits with the public was surprising. ‘I am going to shortly have a meeting with 12 or 15 of the [tech industry] bosses, and we’re talking about giving something back to the public, and if we do that, the public will become very rich,’ Trump told reporters in the White House Oval Office. ‘I think they are going to do it,’ Trump said. The exact form of this ‘giving back’ is unclear, but his remark that ‘the public will become very rich’ suggests a significant incentive aimed at ensuring the wealth from AI is not enjoyed by only a few. Concern is rising among US citizens about AI’s negative impact on their lives. Half of Americans are worried that the increase in AI could cause them or someone in their household to lose their job, according to a Reuters/Ipsos poll completed this week. AI companies Anthropic, OpenAI, Google, and Meta did not immediately respond to requests for comment. A White House official declined to comment on who would participate in the meeting described by Trump. OpenAI is targeting a valuation of up to $1 trillion, as previously reported by Reuters. A deal to give equity shares to the US government could have a major impact on government finances. OpenAI publicly proposed the creation of a ‘public wealth fund’ in April to invest in AI companies, according to a company statement. Proceeds from the fund would be ‘distributed directly to citizens,’ the company stated. Vermont Senator Bernie Sanders, a Trump critic who ran for the Democratic presidential nomination in 2016 and 2020, has voiced support for the idea. Trump said last week his team would study it further.