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TechAnthropic appoints former Fed Chair Ben Bernanke to Long-Term Benefit Trust
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Anthropic, the AI company valued at $965 billion, announced the appointment of former Federal Reserve Chair Ben Bernanke to its Long-Term Benefit Trust. The trust is an independent governance body that advises the company and appoints its board members. Bernanke, who served as Fed chair from 2006 to 2014 and won the Nobel Prize in economics in 2022, will help Anthropic understand how AI is changing the economy. He joins three other trustees: Neil Buddy Shah, Richard Fontaine, and Mariano-Florentino Cuéllar. Trust members hold no equity in Anthropic and are paid only for their time and service. The company, founded in 2021 by former OpenAI researchers, is preparing for a potential IPO as soon as this year.
Source report
Anthropic announced on Thursday that it has appointed Ben Bernanke, former chair of the Federal Reserve, to its Long-Term Benefit Trust — the company's independent governance structure that advises the company and appoints its board members.
Bernanke's Background
Bernanke served as Federal Reserve chairman from 2006 to 2014, succeeding the late Alan Greenspan. Shortly after taking office, he navigated the worst economic collapse since the Great Depression when the financial crisis hit in 2008. His legacy includes steering the Fed into an era of zero interest rates and quantitative easing.
After leaving the Fed, Bernanke held positions at several organizations, including:
- The Brookings Institution
- Citadel
- Pimco
In 2022, he was awarded the Nobel Prize in Economics for his research on the causes of the Great Depression.
Role at Anthropic
According to a blog post, Bernanke will help the company understand how AI is changing the economy.
"Anthropic has created a unique governance structure to try to ensure that the long-run benefits of AI for humanity far outweigh the risks," Bernanke said in a statement. "I am honored to have this opportunity, and I will try to contribute in any way I can to this critical mission."
About Anthropic
Founded in 2021 by a group of researchers and executives who defected from OpenAI, Anthropic is valued at $965 billion and is preparing for a potentially massive IPO that could take place as soon as this year.
The Long-Term Benefit Trust
Bernanke is the fourth member of the trust, joining:
- Neil Buddy Shah, CEO of the Clinton Health Access Initiative
- Richard Fontaine, a national security expert
- Mariano-Florentino Cuéllar, an international affairs expert (appointed in January)
Members of the trust do not hold any equity in Anthropic and are paid exclusively for their time and service. Existing trustees select new members in consultation with the company.
—CNBC's Jeff Cox contributed to this report
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Former Fed Chair Ben Bernanke joins Anthropic's AI oversight trust