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Rise of the AI-ristocracy

Silicon Valley’s newest billionaires have a plan to save the world.

Well before he became CEO of one of the most valuable startups of all time, Dario Amodei was a 26-year-old PhD student studying biophysics at Princeton, obsessing over how his money would leave its mark on the world.

On what one might assume was likely a fairly modest academic stipend and with no discernible inheritance from his parents, an Italian-American leatherworker and a project manager for libraries, Amodei gave $10,000 in 2009 to a relatively new charity evaluator called GiveWell. Founded by two ex-hedge funders before effective altruism was even a phrase, GiveWell ranked charities primarily by a single dispassionate metric: dollars per lives saved.

The AI boom is set to create a new slate of Silicon Valley millionaires and billionaires, many of whom say they plan to give all or much of their wealth to charity.

Much of that philanthropy — which one estimate says could exceed $100 billion per year — will go to causes associated with effective altruism, like animal welfare or AI safety.

This influx of wealth may ultimately reshape American philanthropy in its own rigorously optimized image, with broad implications for how we treat animals, fight disease, and adapt to AI itself.

It was the kind of approach that clearly appealed to Amodei — though it may not have gone far enough for him. In 2010, he wrote a guest blog post for GiveWell dissecting the effectiveness of two of the group’s top global health charities: VillageReach and StopTB. Both charities could save a life at roughly comparable costs — around $545 — but while StopTB treated or prevented tuberculosis in adults, VillageReach’s interventions mostly saved babies and children. Most people would probably feel that saving a child trumps saving an adult; indeed, even effective altruists often agree on the grounds that children have more life to live left.

Amodei, though, viewed that as a liability for VillageReach. An adult death, he wrote, is “perhaps 2 or 3 times worse than an infant’s death,” because adults “are capable of deeper and more meaningful experiences.” As uncomfortable as such a calculus may be, he wrote, “on a practical level one is forced to make difficult decisions with limited funds.”

Though he declared StopTB to have “superiority on cost-effectiveness,” Amodei ultimately gave VillageReach higher marks for their tightly controlled “chain of execution” — the full sequence of steps between a dollar of donation and a vaccine reaching a child. That was important enough to Amodei that, despite his initial reservations, he ultimately gave VillageReach his entire $10,000 donation in 2009 — enough to save, he estimated, the lives of 20 babies across rural Africa.

But Amodei hoped the ultimate impact would be even greater. “The money I give out is not just a one-shot intervention,” he concluded, “but also a vote on what I want the philanthropic sector to look like in the future.”

The future, it seems, has arrived. Amodei is now a multibillionaire, his fortune poised to skyrocket further if and when Anthropic goes public, as many expect it to do later this year. He is one of dozens of new billionaires and millions of new millionaires minted virtually overnight by the AI boom.

There have already been plenty of aftershocks to this emerging AI megawealth, like the stratospheric San Francisco housing market, the nerdmaxxing of sex work, and the proliferation of all-you-can-biohack peptide raves.

But the most consequential, and perhaps weirdest, way this burgeoning AI-ristocracy plans to burn through its cash is by giving a huge chunk of it away. Amodei is one of several AI multibillionaires — alongside his co-founders at Anthropic and OpenAI’s Sam Altman — who have pledged to donate most of their wealth in their lifetime. But even their obscene degree of collective wealth — they are worth $111.8 billion as of this writing — is only one slice of an AI bonanza that seems poised to balloon into one of the most consequential waves of American philanthropy of all time, one deeply shaped by the same utilitarian impulse that guided one of young Amodei’s first big donations.

”I am having thousands of conversations with people who are perplexed by their own fortune and determined to give with thoughtfulness and urgency in a way that I haven’t, frankly, experienced before,” said Nick Allardice, CEO of the effective-altruism-aligned anti-poverty group GiveDirectly, whose work is grounded in research on the efficacy of unconditional cash transfers. “It’s just really important that people get started, that they don’t let perfect be the enemy of the good.”

This is neither your father’s, your grandfather’s, nor your great-great-grandfather’s philanthropy. If Gilded Age industrialists like John D. Rockefeller, a devout baptist, gave in service of their religiosity or, as was the case for Andrew Carnegie, their reverence for civic duty, then most of today’s AI barons carry forth their own spiritual tradition, one at the very least informed by the vigorously optimized commandments of the effective altruism movement. They appear far less likely to fund Carnegie-style works like opera houses or libraries than they are to put their faith — and their billions — in what they believe they can measure, calculated on the cost benefit analysis of a life saved or an apocalypse averted.

In some cases, as Amodei did as a grad student, they’ve already begun the process. “These are people who have committed themselves to giving back even before they were very wealthy,” said Sjir Hoeijmakers, CEO of Giving What We Can, an organization that developed a campaign popular with effective altruists to give away at least 10 percent of their yearly income, “people who have been building the habit of giving for a very long time.”

And it is, to be clear, a very particular kind of giving. Amodei was the 43rd person to sign the 10 percent pledge the year after it launched in 2009, and its roster has since swelled to over 11,000 people, including more than a dozen current or former Anthropic employees. Donations made........

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