15h05 ▪ 5 min read ▪ by Luc Jose A.
Summarize this article with:
Anthropic wants to allocate 5% of its shares to a new fund intended to finance public interest projects, subject to shareholder approval. Elon Musk responded with another promise: to offer a SpaceX share to every American child as early as 2027.
In brief
- Anthropic plans to allocate 5% of its capital to a fund meant to finance public interest projects.
- The scheme could be reinforced if the company’s value increases, but remains subject to shareholder approval.
- Elon Musk replies by promising a SpaceX share to every American child as early as 2027.
- This promise would represent nearly 10.7 billion dollars, but its terms remain unknown.
- Anthropic and Musk offer two approaches to wealth sharing, whose implementation remains to be confirmed.
A fund could receive at least 5 % of Anthropic
The company developing Claude announced on October 18 the creation of the Anthropic Public Benefit Fund. This new entity would initially receive 5% of the company’s equity, then could obtain additional stakes if Anthropic’s value increases.
The plan still remains subject to shareholder approval. So it is not yet a fully executed transfer. The main announced elements are as follows :
- The fund is initially to receive 5% of Anthropic’s shares ;
- Up to an additional 2% may be allocated after each 50% increase in the company’s value ;
- The resources could finance associations or direct distributions ;
- The funds should not be used to finance political contributions ;
- Anthropic estimates that about 20% of its capital will support public causes if internal commitments are included.
This last proportion takes into account the new fund but also the promises made by the co-founders and some employees. The founders have notably committed to donate 80% of their personal stakes to public interest causes.
Anthropic has explained:
We could study significant donations to associations or direct distributions to certain populations.
The company does not yet specify the organizations, beneficiaries, disbursement schedule, nor the governance rules of the fund.
The final value of the scheme will mainly depend on Anthropic’s valuation. A stock market IPO could push it beyond 150 billion dollars. In such a scenario, a 5% stake would be worth about 7.5 billion. This figure remains an estimate, as the future stock price and listing conditions are unknown.
Elon Musk promises a SpaceX share to every child
Elon Musk first responded to Anthropic on X: “I recommend giving the shares directly to the public”. A few hours later, he promised to offer in 2027 a SpaceX share to every child in the United States.
The US has about 73 million people under 18 years old. With a SpaceX share valued at 146.03 dollars at the last quoted close, the commitment would amount to nearly 10.7 billion dollars.
“Next year, I’ll give one of my SpaceX shares to every child in America”, said Musk. He added that this operation would be “the first of a long series”.
The promise remains however little detailed. Musk did not specify either the eligibility criteria, the distribution procedure, or the tax consequences. He also did not indicate whether the children would receive the shares directly or if they would be deposited in locked accounts until they reach majority.
The billionaire seems to consider a link with the investment accounts created by the Trump administration for American children. However, this approach has not been the subject of an official mechanism. Musk’s declaration should therefore be presented as a public commitment, not as an already operational program.
Two visions of the wealth sharing created by AI
Anthropic and Musk defend two different methods. Anthropic favors an institutional fund capable of selecting projects and organizing targeted aid. Musk proposes a direct distribution of shares, which would allow children to benefit from any possible rise in SpaceX’s stock price.
These announcements come as concerns related to artificial intelligence increase in the United States. An AP-NORC poll published at the end of September indicated that 64% of American adults think AI development is too fast. Only 8% believe it is too slow.
Anthropic wants to fund work on AI’s effects, notably on employment, safety, and social risks. The company had already committed 200 million dollars to initiatives related to public interest.
These promises can reach several tens of billions of dollars, but their value depends on the market and implementation. For Anthropic, the next steps concern integrating this scheme into the IPO, shareholder approval, fund governance, and beneficiary identification. For Musk, the challenge will be to turn a post on X into a legal, financial, and tax framework accessible to millions of families.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.