Anthropic: 5 per cent of the shares will go to a charitable trust
The Anthropic Public Benefit Fund has been established. Its aim is to mitigate the impact of the AI revolution on jobs
(Il Sole 24 Ore Radiocor) - Anthropic has decided to allocate 5 per cent of its shares to the Anthropic Public Benefit Fund, with provision for a further 2 per cent to be added to the fund, at the discretion of the board of directors, for every 50 per cent increase in the company’s value. The decision will require the approval of the shareholders.
According to a statement, the Anthropic Public Benefit Fund will be able to consider large donations to traditional non-profit organisations or direct distributions to specific sections of the population.
An example of the fund’s areas of application, the note explains, is the world of work and the impact of AI on it: ‘AI can generate enormous economic value, but it could also cause instability for many workers. Anthropic has already allocated $200 million to study and address this issue, but given the pace of progress in AI, bolder approaches may be needed. The fund will have the flexibility needed to pursue them’. None of the Anthropic shares held by the fund’s holding company – the US firm states – will be used for lobbying or political donations, either in the United States or abroad.
In the statement, Anthropic highlights the commitment of the company’s co-founders to donate 80 per cent of their respective personal shareholdings to charitable causes, as well as the programme for employees to donate a portion of their shares, which is matched by an equal contribution from the company.
“Around half of our employees take part in this programme,” explains the company: taking into account the portion allocated to the foundation under the recently announced project, “approximately 20 per cent of Anthropic’s shares will be dedicated to the public good”, and this proportion would increase with further donations linked to the group’s growth in value.
