Elon Musk and artificial intelligence developer Anthropic have pledged major financial equity giveaways, committing company shares to the public as the technology sector faces intense scrutiny over artificial intelligence safety and labor-market impacts.
Artificial intelligence startup Anthropic committed 5% of its shares to a newly established Anthropic Public Benefit Fund. The corporate structure is designed to hold equity dedicated entirely to public benefit initiatives, with allocations potentially increasing by another 2% for every 50% rise in company valuation above a specified baseline, subject to board discretion.
The Claude developer reported third-quarter revenue surged by 45% to $16.8 billion in the three months leading to the end of September. As the firm lays the groundwork for a confidential public listing filed with US regulators in June, Reuters reported that some investors have discussed a valuation of around $1.5 trillion.
Next year, I will give one of my SpaceX shares to every kid in America.This will be the first of many.
Elon Musk Proposes Direct Public Share Distribution Over Corporate Funds
Tesla and SpaceX chief executive Elon Musk pushed back against Anthropic’s fund structure, arguing that equity should bypass intermediary boards entirely. Responding directly on social media, Musk offered a contrasting approach for wealth distribution.
I recommend giving the shares directly to the public. This is what I will be doing.
Elon Musk, Tesla and SpaceX CEO
Musk followed up by pledging to give one of his shares in SpaceX to every child in America next year, describing the planned move as the first of many.
I recommend giving the shares directly to the public
New Structure Concentrates Shareholder Control
Software investor and Golden Door chief executive Vijar Kohli raised specific concerns regarding the upcoming initial public offering. Kohli argued that creating a limited liability company to hold equity pre-emptively dilutes voting rights and concentrates shareholder influence.
Setting up a new ownership structure distorts the shareholder base. It gives proxy to whoever runs the Public Benefit Fund. Which will be more about control rather than making money,
Kohli wrote on X.
Labor Disruption Pledges and Global Scrutiny on Artificial Intelligence
Anthropic’s public commitments include a previous pledge of $200 million aimed at studying and responding to potential labor-market disruptions caused by artificial intelligence adoption. The company emphasized that none of the shares held within its Public Benefit Fund would be utilized for political donations or lobbying efforts domestically or internationally.
Research published by the International Monetary Fund suggests that nearly 40% of jobs worldwide could be affected by artificial intelligence, with advanced economies seeing that figure climb as high as 60%.
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…
Neither company executive nor regulatory filings have disclosed specific operational details on how a massive direct public giveaway of private rocket company shares would be executed.
More on Elon Musk
Elon Musk just casually revealed something absolutely massive: He plans to give company shares directly to the publicAnthropic just announced a new "Public Benefit Fund" starting with 5% of its shares, held through an entity Anthropic wholly ownsCombined with separate… https://t.co/AoIEGE4QtM pic.twitter.com/GZRHrX3LGo
Wait a minute, did Elon Musk just say he plans to give company shares directly to the public?! 🫨🚀Anthropic just announced that it’s setting aside 5% of its shares for a new Public Benefit Fund, which could eventually support charities and even distribute benefits directly to… https://t.co/WI95Y2LqAk pic.twitter.com/S0Gr7SVGXG
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