Anthropic prepares supervoting power for founders ahead of IPO
The company is also planning to maintain its existing body of non-shareholder trustees with a special class of stock to elect a majority of members to the company's board of directors, according to the report.
Anthropic is set to grant CEO Dario Amodei and other founders a special class of stock with enhanced voting rights, according to reports. The Information revealed on Tuesday that the company is exploring this move to shield its leaders from external shareholder pressure ahead of an anticipated IPO later this year. The specifics of the voting arrangements remain undisclosed, as does the possibility of changes to the plans.
However, it is noteworthy that this would be the initial instance where Anthropic's leaders would wield extra voting power.
Anthropic's co-founders possess a relatively minimal stake in the company compared to founders of other tech firms. Dario Amodei, for example, holds approximately 2% of Anthropic, as per a source close to the company, as cited by the Information. Nevertheless, the adoption of dual-class structures intended to grant supervoting power to leaders is a prevalent trend among founder-led companies.
This strategy aims to provide founders with greater control and insulate them from short-term shareholder pressure. Examples include SpaceX's structure, which grants CEO Elon Musk substantial voting power, and Meta, where CEO Mark Zuckerberg holds about 60% voting control through super-voting shares.
Anthropic is currently preparing for a potential IPO, which is anticipated to be one of the largest market debuts in history. The company operates as a public benefit corporation, legally obligated to balance commercial success with social and public benefit. Additionally, Anthropic maintains a Long-Term Benefit Trust, an independent oversight body tasked with ensuring the startup fulfills its public benefit mission.
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