Credit: PhotoGranary02 via Shutterstock Anthropic’s seven co-founders will hold 50.1% of the company’s voting power after it lists. They will do so through a new entity called the Founder LLC, according to a draft IPO filing reviewed by Reuters. The setup is meant to let them put the company’s mission ahead of market pressure. Still, the document has not been made public, and we have not seen it either.
Anthropic has refused to comment to Reuters. Under the plan, the co-founders decide by majority vote how to cast a single Class F share. That one share carries 50.1% of the vote on major decisions, such as the selection of some board members. Anthropic will have four other share classes.
The Class A stock sold to the public gives one vote per share, while shares held by strategic partners carry very few votes. Taken together, the structure could weaken the voice of ordinary investors. The filing itself warns that decisions made this way may conflict with shareholders’ financial interests and harm the value of Class A stock. Anthropic will also remain a public benefit corporation under Delaware law, which lets its leaders weigh the public good alongside returns to investors.
Besides chief executive Dario Amodei, the group includes his sister Daniela Amodei, who is president and board chair, Tom Brown, who runs compute, and researcher Chris Olah. Class F and Class A holders will elect the two Amodeis and one director who has not yet been named. The other four board seats will be filled by the company’s Long-Term Benefit Trust, an oversight body whose members include Ben Bernanke, the former head of the Federal Reserve. A founder can lose their place in the LLC for leaving the company, dying, selling too many shares, or for cause.
Once two or fewer founders, or their successors, remain, the special share begins to phase out. The filing also lists 2025 pay of nearly $18m for Dario Amodei, mostly in stock and options, and $16.4m for Daniela Amodei. All seven co-founders have pledged 80% of their Anthropic stakes to charity.
Leave a Reply