Musk and Two AI Rivals Plan the Biggest Giveaway in History: US$300 Billion Explained

Three of the most powerful forces in artificial intelligence are pledging to give away fortunes on a scale the world has never seen. According to the Washington Post, charitable ventures from Elon Musk, OpenAI and Anthropic are backed by an estimated US$300 billion, more than three times the holdings of the Gates Foundation. If the money is delivered, it would be the biggest wealth giveaway in modern history. Critics, though, question how much will really reach the public. Here is what has been promised, how each plan works, and why AI billionaire philanthropy is facing so much scrutiny.

The US$300 Billion Estimate

The Washington Post reported on 22 October 2026 that OpenAI, Anthropic and Elon Musk have pledged an estimated US$300 billion to philanthropic projects, as its feature on the giveaway explains. The paper noted that the same companies promise investors huge profits while warning that AI will disrupt society by automating jobs and creating new security threats. Philanthropy is part of how they say they will share the benefits.

The figure is an estimate. Much of it is tied to the value of company shares, which can rise or fall.

How Each Plan Works

Anthropic

On 18 October, Anthropic committed 5% of its shares to a new Anthropic Public Benefit Fund, which it described as a wholly owned entity dedicated entirely to the public benefit. Overall, about 20% of Anthropic’s shares have been dedicated to the public good, and its co-founders have personally pledged 80% of their equity to charity, according to Popular Information. Anthropic has said the fund’s equity will not be used for lobbying or political giving in the US.

Elon Musk

Hours later, Musk pledged to give one of his SpaceX shares to every child in America next year, a gift worth roughly US$10.5 billion at recent prices, as our report on his SpaceX share pledge explains. He has said he prefers giving shares directly to the public rather than through traditional charities.

OpenAI

OpenAI’s charitable arm is the nonprofit that sits above the company. When OpenAI restructured in 2025, that nonprofit received a large ownership stake in the business, giving it significant resources for charitable work as the company’s value grows.

Why Critics Are Sceptical

Not everyone is celebrating. Common concerns include:

• Delivery. Pledges are not payments. Forbes noted that most of the Tesla stock Musk has moved into his charitable foundations has largely sat unspent, and reports say his foundation has fallen short of required giving levels in recent years.
• Timing. Much of the value depends on future share prices and events such as stock market listings, so the final amount is uncertain.
• Control. Some critics argue that giving through company-linked funds keeps power concentrated in the hands of those who already control AI.
• Tax benefits. Large stock donations can bring significant tax deductions, which some see as reducing the true cost of giving.

Supporters respond that even a fraction of the promised sums could fund enormous progress in health, education and science, and that tying giving to company success aligns incentives with public benefit.

Why It Matters

The pledges reflect a growing sense, even within the industry, that AI could create vast wealth while displacing many workers. How that wealth is shared may become one of the defining questions of the coming decade. Regulators are also paying closer attention to AI companies, as our explainer on the FTC investigation into OpenAI and Anthropic shows. Our AI and jobs explained guide covers the wider debate.

Generous Promises, Hard Questions

The AI industry’s pledges could reshape philanthropy if they are delivered in full. For now, they are promises worth watching closely rather than celebrating outright. Judge these plans by what is actually given, and how transparently, in the years ahead.

Frequently Asked Questions

How much have AI leaders pledged?

The Washington Post estimates about US$300 billion across Musk, OpenAI and Anthropic.

Is the money guaranteed?

No. Much of it is tied to share values and future events, and pledges are not the same as payments.

What is Anthropic’s Public Benefit Fund?

A new entity holding 5% of Anthropic’s shares, dedicated to public benefit, which Anthropic says will not fund US lobbying or political giving.

Will people outside the US benefit?

Musk’s share pledge covers American children. The other funds have not detailed where all their giving will go.