- NextLadder Ventures is a 15-year, $1 billion initiative to help 90 million low-income Americans
- Grants, equity and revenue-based financing will be on offer to eligible participants
- Anthropic will offer Claude credits and support worth $1.5 million annually
NextLadder Ventures has launched a $1 billion initiative to help support low-income Americans, arming them with AI skills for future employment opportunities.
The initiative was founded by a coalition of major philanthropies, including Ballmer Group, Gates Foundation, Stand Together, Valhalla Foundation and John Overdeck.
It’s set to run for 15 years, providing grants, equity and revenue-based financing to nonprofits and for-profits to help support at-risk Americans, with Anthropic joining as its inaugural AI partner offering Claude credits and expert support.
Gates Foundation backs $1 billion AI initiative
The Gates Foundation described NextLadder Ventures as an “initiative grounded in the belief that every American has the potential to achieve economic prosperity.”
“While innovative ideas exist to help low-income Americans overcome obstacles and pursue prosperity, there is insufficient capital available to those serving these populations,” its press release says.
The initiative aims to expand economic opportunities for over 90 million low-income Americans, supporting entrepreneurs who want to address job loss, housing instability and health crises. As part of the deal, Anthropic will contribute about $1.5 million annually.
“The Gates Foundation is focused on lifting millions of people out of poverty and onto a path to prosperity,” Gates Foundation CEO Mark Suzman commented.
The coalition announced Ryan Rippel as the CEO of NextLadder Ventures. Rippel, who already has a history working with the Gates Foundation, challenged the notion of a one-size-fits-all approach, pledging new and practical pathways. His “design with, not for” stance comes from growing up in a single-parent household in Missouri, where he was able to experience some of the struggles NextLadder Ventures aims to solve.
In a LinkedIn post, Rippel wrote: “Closing this divide means helping the helpers and the people they serve access new, practical pathways to opportunity.”
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Background on NextLadder Ventures
NextLadder Ventures represents a collaborative effort among major philanthropies to harness AI for social good. Launched in July 2025, the initiative pools resources from the Gates Foundation, Ballmer Group (led by former Microsoft CEO Steve Ballmer and his wife Connie), Stand Together (founded by billionaire Charles Koch), Valhalla Foundation (established by Intuit co-founder Scott Cook and Signe Ostby), and hedge fund founder John Overdeck.
The fund aims to support 90 million low-income Americans by developing AI tools that promote economic mobility. Funding will include grants, equity investments, and revenue-based financing for both nonprofits and for-profits. Anthropic, a leading AI company, joins as the inaugural partner, providing Claude AI credits and expert support valued at $1.5 million annually.
This venture aligns with Bill Gates’ broader vision of using AI to address global inequities, as he has emphasized in recent discussions. Gates views AI as a tool to reduce barriers in health, education, and employment, particularly for underserved communities.
Key Objectives and Target Areas
The initiative focuses on equipping frontline workers—such as public defenders, parole officers, and social workers—with AI technologies to manage high caseloads more efficiently. By automating administrative tasks, these tools could free up time for personalized support, helping at-risk individuals access resources after events like evictions or natural disasters.
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Economic Mobility Tools: AI-driven solutions for matching people with job opportunities, housing, or emergency aid, reducing paperwork delays.
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Frontline Efficiency: Custom AI for case management, predictive analytics to identify needs, and automated reporting to close cases faster.
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Research and Equity: A portion of funds will support studies ensuring AI benefits are distributed equitably, avoiding biases that could exacerbate inequalities.
Brian Hooks, CEO of Stand Together, highlighted the approach: solutions will be developed “by coming alongside people who are living through some of the struggles in the economy”.
Potential Impact on Society
This fund could transform how AI addresses societal challenges, especially in a post-labor world where automation reshapes jobs. Gates has predicted AI could replace roles in teaching and medicine within a decade, making expert advice free and accessible. For at-risk Americans, this means bridging gaps in healthcare and education through scalable, low-cost AI tools.
However, experts note challenges like ensuring AI doesn’t widen divides; Gates advocates for policies like universal basic income to share productivity gains. In the U.S., where math achievement is declining among low-income students, AI could personalize learning to boost long-term economic prospects.
Globally, the initiative echoes Gates’ work in health equity, such as using AI for disease prevention in low-resource settings. By 2045, Gates plans to donate 99% of his fortune, accelerating efforts like this to save lives and improve livelihoods.
Challenges and Criticisms
While promising, the fund raises questions about billionaire influence in AI and public policy. Critics argue that concentrating power in a few hands could overlook diverse needs, emphasizing the importance of transparency and community involvement. Gates acknowledges risks like misinformation and job displacement, calling for ethical AI development.
Additionally, as AI advances, regulatory efforts—like the EU AI Act and U.S. executive orders—are intensifying to balance innovation with safety[previous update, but cite if needed—no memory cite rule].
Future Outlook and How to Get Involved
Looking ahead, NextLadder Ventures plans to scale AI applications across sectors, potentially integrating with tools like multimodal systems (e.g., processing text, images, and audio) for more intuitive support[previous update]. Gates envisions a “deflationary abundance” where AI lowers living costs, making essentials more affordable.