The All-Affected Principle (AAP) in democratic theory holds that everyone who is affected by a decision has a claim to participate in making that decision. Authors who invoke the principle usually restrict its scope and argue only for enfranchising affected interests within formal political decision-making procedures. In other words, the AAP would expand the demos (e.g. by including people affected by decisions taken in other countries), but need not expand the sites of formal politics to which democratic norms apply. Against these scope restrictions, we argue that the AAP applies to some extra-governmental actors and, in particular, to big philanthropists. We make this argument without endorsing an expansive reading of the AAP as applying to all kinds of decisions, public and private. Rather, we argue that the reasons we have for endorsing the AAP—for thinking that it is wrong for people to be denied influence over exercises of power that affect them—do not pick out formal political decision-making as a uniquely important site of inclusion. We also challenge, on anti-paternalist grounds, the assumption that it is primarily the risk of negative impacts that grounds claims to inclusion.