Anthropic commits 5% of its stock to a new 'public benefit' fund
Anthropic said Sunday it is committing 5% of its shares to a new “public benefit” fund, with the fund’s worth potentially increasing as its shares grow in value.
TL;DR
- Anthropic is committing 5% of its shares to a new public benefit fund.
- The fund's value will increase as Anthropic's shares grow.
- This fund will enable exploration of large donations to nonprofits or direct distributions to specific populations.
- CEO Dario Amodei and co-founders established Anthropic as a public benefit corporation.
- Co-founders have pledged to donate 80% of their wealth.
- An equity donation match program allows employees to pledge equity.
- Combined with other initiatives, roughly 20% of Anthropic's shares will be dedicated to public good.
- Anthropic is planning a massive initial public offering as soon as November.