Anthropic said in October 2026 that it is committing 5% of its shares to a public benefit fund, reaching roughly 20% with co-founder and staff pledges, with an extra 2% of shares per 50% valuation increase. The fund is a wholly owned LLC barred from lobbying. The discussion has since widened to governance: the Long-Term Benefit Trust can seat four of seven board members and dismiss them without cause, and its governing documents are not public. Founders can also name confidential successors to their voting power, approved by one another, through a single class F share held by Founder LLC. At a $2 trillion valuation, the first 5% pledged is worth around $100 billion.