AI wealth's 'third wave' of philanthropy: ~$37B a year, best spent catalyzing markets
RishiBommasani · x · 2026-11-13
Building on nanransohoff's thesis of an AI-driven "third wave" of American philanthropy, Kumar Garg endorses a three-part framework:
- Compared to current giving, this new wave is big;
- Compared to government and markets, it is small;
- Its highest leverage lies in catalyzing government and markets — the focus of most Renaissance Philanthropy playbooks and funds.
A companion piece by albrgr et al. catalogs high-impact spending targets, from urgent AI safety plays to farmed-animal welfare and closing the extreme poverty gap. Estimate: if the whole third wave ($37B/yr) went to cost-effective global health programs, it could save a large number of lives annually. The organization also publishes open-source playbooks (Catalytic Capital, Coordinated Research Programs, Market Shaping, Prize Competitions, etc.).
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