Proposed Share Structure for Control
Anthropic’s seven co-founders, including CEO Dario Amodei, are seeking a share structure that would allow them to maintain control after the company goes public. According to The Information, the proposal involves special shares that would collectively carry 50.1% of the voting power on most corporate matters, provided that at least three of the founders retain a minimum stake.
Governance Details
The proposed special shares would not provide any additional economic rights. Currently, each founder owns approximately 2% of the company. In January, Amodei announced that the group has committed to donating 80% of their wealth, highlighting concerns that AI-driven wealth concentration could destabilize society.
Comparison with Other Companies
This approach mirrors the super-voting share structures used by other public companies, such as those employed by Mark Zuckerberg at Meta and Evan Spiegel at Snap. However, Anthropic’s strategy is notable for its collective nature among the founders.
Additional Governance Changes
The proposal includes several governance modifications: Anthropic’s Long-Term Benefit Trust would continue to select most of the board, the founders’ representation on the board would increase from two to three seats, and employees would receive a separate class of stock designed to resolve tie-breaking situations.
Valuation and IPO Timeline
In terms of valuation, Anthropic was valued at $965 billion in May, but recent assessments on the secondary market have placed its value at $1.5 trillion. The upcoming IPO is anticipated to reflect this higher valuation. The proposal for the new share structure is expected to be presented to shareholders in the coming days.
Original source: TechCrunch AI