Anthropic’s founders seek voting control ahead of IPO
Anthropic is asking its shareholders to approve a structure that would give its seven co-founders a combined 50.1% of the vote on most corporate matters.
Anthropic’s founders are seeking to maintain control over the company after its IPO. According to The Information, CEO Dario Amodei and his six co-founders are proposing a special voting structure that would grant them a combined 50.1% of the vote on most corporate matters, provided at least three retain a minimum stake. This proposal is not unprecedented; similar structures have been used by CEOs such as Mark Zuckerberg at Meta and Evan Spiegel at Snap.
However, what sets Anthropic's approach apart is the collective approach taken by the seven co-founders. Despite owning just 2% of the company each, they have pledged to donate 80% of their wealth, a commitment announced by CEO Amodei in January alongside concerns about AI-driven wealth concentration potentially destabilizing society.
The new voting shares will have no additional economic value but will help preserve the group's control once the company goes public. Anthropic’s Long-Term Benefit Trust will still choose most of the board, with the founders' board seats increasing from two to three. Additionally, employees will receive stock to break ties on certain issues.
The company, founded five years ago, was valued at $965 billion in May but was recently valued at $1.5 trillion on the secondary market, and its upcoming IPO is anticipated to reflect this updated valuation.
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