Opinion | A.I. Money From I.P.O.s Will Change Philanthropy

AI wealth from forthcoming IPOs could redefine philanthropy, the article argues. Stripe's Nan Ransohoff predicted a third wave of American philanthropy, and estimates suggest that as much as $370 billion in charitable money could be liquid in the coming months, enabling between $37 billion and $100 billion in annual giving. The OpenAI Foundation is already larger than the Gates Foundation in assets, illustrating the scale at stake. This potential inflow could reshape civil society and public oversight, depending on how it is managed and governed. Historically, philanthropy has served as a tool for wealth to influence public narratives, but the piece warns of backlash if flows are seen as tax avoidance or power consolidation. If IPO-driven wealth materializes, the total could dwarf current giving, potentially four times the Gates Foundation’s annual payout in optimistic scenarios and more than six times in past distributions. The ultimate impact depends on spending choices, including initiatives with mixed results in some developing countries, highlighting a controversial, world-shaping shift in philanthropy's role and accountability.