Assume $A,B \in \mathbb{R}^{n \times n}$ and let $M$ denote the set of $2^n$ matrices we get by replacing, in turn, each subset of columns of $A$ with the corresponding columns of $B$. Then $$\det(A+B) = \sum_{C \in M}\det(C).$$
I found this result on a previous answer, but neither was it named nor was any proof provided. Since I can't find the name or proof anywhere, I ask the question here. What is this formula called? What is its proof?