Anthropic Contributes 5% Shares to Public Benefit Fund
Anthropic, a U.S. company that develops artificial intelligence (AI), has announced plans to give 5% of its shares to a fund that will support the public good. It also plans to give the fund more shares whenever the company's value rises by certain amounts. The goal is to share the benefits of AI business growth with society.
Anthropic said on the 18th, local time, that it would set up the "Anthropic Public Benefit Fund." If shareholders approve the plan, the company will give the fund 5% of its shares. The board of directors may also give it another 2% of the shares each time the company's value rises by 50% above a set starting value. However, Anthropic did not reveal that starting value or explain how it would calculate the increases.
In May, Anthropic was valued at $965 billion, or about 1,288.9 trillion Korean won. Based on that value, the first share contribution would be worth $48.25 billion, or about 64.4 trillion Korean won. This is more than half the value of the Gates Foundation's assets, which are worth about $92 billion. The Gates Foundation is one of the largest private foundations in the United States.
The fund will be set up as a limited liability company (LLC) fully owned by Anthropic, rather than as a separate foundation. It will give money to nonprofit causes and provide direct support to specific groups. It will not pay for political lobbying or political donations. One main goal is to reduce the harm to workers and jobs caused by AI. Anthropic plans to spend $200 million, or about 267.4 billion Korean won, on research and efforts to address these effects.
The fund builds on Anthropic's existing plans to help society. The company's co-founders have promised to donate 80% of their shares, and about half of its employees are taking part in a program that matches share donations. Anthropic said that about 20% of all its shares are set aside for public benefit, including the new fund. This share could rise further if the company gives the fund more shares after reaching its targets for company value.