Two prominent artificial intelligence companies, Anthropic and SpaceX, have announced plans to share a portion of their growing wealth with the public, citing concerns over potential job losses due to AI technology.
Anthropic, known for its Claude chatbot, stated Sunday it intends to allocate 5% of its shares to a new Anthropic Public Benefit Fund. This fund, structured as a company-owned limited liability corporation rather than a conventional nonprofit, awaits stockholder approval. The company indicated this structure allows for diverse forms of giving, saying it is “directing that equity to the public benefit.”
The fund could support nonprofits or directly aid “specific populations,” explicitly stating none of the funds would be used for lobbying or political donations. Job losses attributed to artificial intelligence are one area the fund might tackle. Anthropic has already committed $200 million to study AI’s effect on workers, suggesting the rapid pace of technological advancement may require “bolder approaches.” Including prior commitments from its founders and employees, Anthropic anticipates approximately one-fifth of its stock will be directed toward public benefit, with the potential for more if certain valuation targets are met. The company has not yet detailed the governance structure for this new fund. Anthropic is looking to go public as early as November, potentially reaching a valuation of up to $2 trillion, though this figure remains uncertain.
SpaceX Chief Executive Elon Musk responded to Anthropic’s announcement on X, stating, “I recommend giving the shares directly to the public,” and later adding, “This is what I will be doing.” Musk elaborated on Monday in a brief X post that he plans to distribute a share of SpaceX stock to “every kid in America” next year. He asserted that “Giving shares, which are stakes in the future economy,” directly to the public “is the way.” While details on how this pledge would be executed were not provided, Musk indicated it would “be the first of many.”
SpaceX, headquartered in Starbase, Texas, went public in June at $135 a share, achieving a valuation of $1.77 trillion in what was then the largest initial public offering ever. With about 73 million children in the U.S., and SpaceX stock closing at $147.96 on Monday, Musk’s proposed distribution could be worth nearly $11 billion. Separately, SpaceX President and Chief Operating Officer Gwynne Shotwell previously pledged over $320 million in SpaceX stock to children’s “Trump Accounts,” an initiative for direct gifts to children’s investment accounts.
These pledges arrive as public concern grows regarding artificial intelligence’s societal impact. A June Pew Research Center survey revealed that 71% of U.S. adults expect AI to lead to a reduction in U.S. jobs over the next two decades, an increase from 64% earlier in 2024. Only 5% foresee an increase in jobs. Southern Californians, like many across the nation, are increasingly grappling with how rapidly evolving AI technology could reshape the economy.
The discussion around AI’s speed of development has also intensified recently, with Anthropic CEO Dario Amodei advocating for a slowdown in the industry, a sentiment echoed by OpenAI’s Sam Altman, Musk, and other tech leaders. This debate was further highlighted when Anthropic researcher Jacob Coxon resigned in September, publicly warning about the risks of uncontrolled AI development.
The concept of tech leaders dedicating significant personal or corporate wealth to public causes is not new. In 2015, Mark Zuckerberg and his wife Priscilla Chan pledged 99% of their Facebook shares, valued at roughly $45 billion at the time, to the Chan Zuckerberg Initiative, which was also set up as an LLC. Even earlier, in 2005, Google committed 1% of its profits and equity to its philanthropic arm, Google.org, structured as a division of the company. Additionally, Michael and Susan Dell announced last year their intention to donate $6.25 billion to fund “Trump Accounts” for 25 million eligible children.
