Anthropic announces the Anthropic Public Benefit Fund (5% of shares, ~20% of shares committed to the public good)
Anthropic @AnthropicAIXImportance: major (4 of 5)
Why it matters
Primary announcement of one of the largest corporate equity commitments to the public good, made weeks before Anthropic’s IPO.
Summary
Anthropic’s thread: 5% of shares to a new wholly owned entity; up to 2% more per 50% value increase over a baseline, at the board’s discretion; with the co-founders’ 80% pledge and employee donations, roughly 20% of shares committed. About 271k views on the evening of Oct 18.
Archived text
We’re committing a portion of Anthropic’s shares to the Anthropic Public Benefit Fund, a new wholly owned entity dedicated entirely to the public benefit.
It will start off with 5% of our shares. For every 50% increase in the company’s value over a set baseline, we can contribute up to an extra 2%, subject to our board’s discretion.
In total, this means that roughly 20% of Anthropic’s shares are committed to the public good. Our co-founders have already pledged to donate 80% of their equity, and around half our employees are donating a portion of their equity as part of a donation matching program we’ve run since our founding.
In the post below, we share more details about our new fund.