Anthropic has announced a new public benefit fund that would receive 5% of the company’s shares, subject to stockholder approval. The fund’s stake could grow as Anthropic’s value rises: the board may add 2% of the company’s shares for every 50% increase above a set baseline.
Anthropic says the fund will give it more flexibility to support public benefit work outside the company. It might make large donations to nonprofits or distribute funds directly to specific populations. Those are examples the company is considering, not announced grants.
The company points to the effects of AI on workers as one possible area for the fund. Anthropic says it has already committed $200 million to studying and addressing labor market impacts. It has not specified how much the new fund would spend on that work.
The fund will be structured as an LLC
Anthropic is setting up the fund as a wholly owned limited liability company. It says that structure allows different forms of giving. The company also says none of its equity held by the fund will be used for lobbying or political giving, in the United States or abroad.
The fund adds to existing equity donation commitments. Anthropic says its co-founders pledged to donate 80% of their equity holdings when the company was founded. It also matches equity pledged by employees through a program in which approximately half its employees participate. According to Anthropic, those commitments and the new fund together would dedicate roughly 20% of its shares to the public good, with more possible if valuation milestones are met.
Anthropic says it will share more about the fund’s structure and governance in the coming months, including the valuation milestones. It also plans to report on its progress in an upcoming public benefit report.
