Anthropic Pledges 5% Stake to Fund; Musk Pledges Share Giveaway
The AI company Anthropic has pledged to create a public-benefit fund. The pledge came before the company's stock-market listing.
The company will commit 5% of its shares to the fund. This still needs approval from shareholders.
The stake was worth about $48 billion at the company's May value. That is about £36 billion.
The Guardian reported the company's board may add 2% more shares. This would happen for each 50% rise above a baseline.
Reports also say a stock-market listing is planned for November. Elon Musk pledged a public share giveaway after Anthropic's announcement.
Musk reportedly specified one SpaceX share for each American child next year. Anthropic is a public-benefit corporation. The fund would give another way to support public-benefit work.
Key Terms 4
- public-benefit corporation a company that also aims to help the public.
- shareholders people who own shares in a company.
- SpaceX a rocket and satellite company led by Elon Musk.
- stock-market listing when a company first sells shares to the public on a stock market.