Anthropic’s dual-class share structure borrows ideas from Mark Zuckerberg, Elon Musk—and the New York Times

Anthropic, the AI startup, has filed for an IPO and its S-1 filing reveals a unique dual-class share structure. This structure draws inspiration from the Class B shares used by Meta (formerly Facebook) and the Class F shares used by Anthropic itself. An additional Class F share, held by an LLC, grants control over voting rights even if a co-founder relinquishes the majority of their shares.

This innovative approach has been adopted by other tech giants like Elon Musk's SpaceX and The New York Times, which hold their shares in a family trust with a written mission. The purpose of this arrangement is to ensure that Anthropic's co-founders, who are focused on AI safety, retain the power to guide the company's mission, even if the public shareholders hold the majority of economic shares.