Anthropic has officially announced that it will allocate a portion of its shares to the "Anthropic Public Benefit Fund," a newly established entity aimed at increasing its contributions to society as the company grows. With shareholder approval, 5% of shares will be committed today, and at the discretion of the board, an additional 2% of shares will be added each time the company's value increases by 50% over a set benchmark.
Flexibility and Scale of the Public Benefit Fund
As a public benefit corporation, much of Anthropic's work is conducted internally, including research related to AI safety and explainability, applications in biomedical research, and discounts on Claude provided to non-profit organizations and scientific institutions. These activities possess both public benefit and profit value, thus operating directly within the company.
"The Anthropic Public Benefit Fund will have greater flexibility and scale, allowing us to pursue our mission in new ways."
Anthropic
The fund will be able to explore the possibility of making large donations to traditional non-profit organizations or directly allocating resources to specific groups. For example, while AI may bring significant economic value, it could also create instability for many workers. Anthropic has already committed $200 million to research and address this issue, but given the rapid pace of AI advancements, bolder approaches may be necessary. This fund will have the flexibility to pursue those methods.
Structure and Governance of the Fund
The Anthropic Public Benefit Fund will be established as a wholly-owned limited liability company, rather than a 501(c)(3) or other form, to allow for adjustments between different forms of donations. Any Anthropic equity held by the fund will not be used for lobbying or political donations in the U.S. or abroad.
"As Anthropic grows, more company shares will be dedicated to public benefit."
Anthropic
This initiative builds on commitments already made by the founders and employees. When Anthropic was founded, the founders pledged to donate 80% of their equity, and since then, we have operated a stock donation matching program that allows employees to pledge equity, which Anthropic matches. About half of the employees have participated in this program. Combined with today's announcement, approximately 20% of Anthropic shares will be specifically dedicated to public benefit, with additional shares joining if the company reaches specific valuation milestones.
Future Plans and Progress Reports
In the coming months, Anthropic will share more information about the structure and governance of the Public Benefit Fund, including potential valuation milestones that may increase its shares. We will also report on our progress in achieving our mission in an upcoming public benefit report.
Source: Anthropic Official Announcement