San Francisco · Elon Musk · Samsung · Rest of World
AI is minting new billionaires, and workers want their share
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Samsung Electronics narrowly averted a walkout by nearly 48,000 workers this week, after executives agreed to a tentative deal over bonus payments.
Key facts
- $59 billion Worth of 19 new AI founders created in the U.S. in the last year
- Last year, 29 founders minted fortunes worth a collective $71 billion, it showed
- SpaceX this week filed for an initial public offering that values the company at over $2 trillion, and could make founder Elon Musk the world’s first trillionaire
- Samsung Electronics narrowly averted a walkout by nearly 48,000 workers this week, after executives agreed to a tentative deal over bonus payments
Summary
Samsung’s labor deal highlights a global movement of workers demanding a fair share of record AI-driven profits. From Kenyan data annotators to Hollywood actors, laborers across the supply chain are challenging the surge in “AI billionaires” as automation continues to drive widespread job cuts. The conflict has sparked broader debates on “citizen’s dividends” to ensure the wealth created by AI is distributed more equitably. Samsung, the world’s biggest memory chip maker, has reported record profits in recent months amid a global shortage of memory chips.