In nearly 2 decades of leading philanthropy at the Milken Institute, I've never seen a tidal wave like the one that's coming

A new flood of philanthropy may be on the way, and it’s being driven by AI money. The source of the money is stark: SpaceX’s giant offering, then the coming IPO plans for Anthropic and OpenAI, both said to be aiming at valuations of at least $1 trillion. When that kind of wealth spreads through tech payrolls, philanthropy changes shape fast.

The estimate here is big: another $37 billion a year could enter the philanthropy sector. That makes the old question feel a little small. The piece argues that new wealth holders should think less about what the money can purchase and more about what it can change.

The case for that thinking leans on scale. US charitable giving reached $617 billion in 2026, and the author says strategically deployed money can unlock $1.5 trillion in catalytic capital or help steer trillions in annual government funding. That is a very different job description from writing a check and hoping for the best.

The argument is also that the hardest problems need more than one fix. Hunger, plastic pollution, housing insecurity, climate change, and poverty are presented as systems problems that may need research, partnerships, policy work, awareness campaigns, social movements, and impact investment all at once. Philanthropy, in this view, is risk capital: it can de-risk early medical research and unproven technologies until other money steps in.

There’s a social angle too. Giving circles are described as the fastest-growing form of philanthropy, having tripled from 2016 to 2023, and the Milken Institute wants new donors to connect, learn, and pool resources. The broader warning is simple enough. This wave of wealth is already arriving, and if it gets treated like a trophy instead of a tool, a lot of opportunity will wash past unused.