Anthropic's Seven Co-Founders Will Each Sell About $250 Million of Stock in IPO

At $70 a share, each founder would receive about $236.5 million, and at $78 about $263.5 million. At the $74 midpoint, the seven together would sell roughly $1.75 billion of stock. TechCrunch noted that the final price could still go above the range if demand is strong.

The sale shows how the people who founded the Claude developer will turn some of their holdings into cash while keeping control. After the offering, each founder will own about 3.2% of Anthropic's outstanding Class A shares, or roughly 22% between them, according to the filing. That is not their share of the whole company. Other investors, including Amazon and Google, hold non-voting Class N shares, so the founders' stake in Anthropic's total equity is considerably smaller.

Control comes from another class of stock. Each founder will receive one share of Class F stock, which carries supervoting rights, and together the seven will hold 51.1% of the votes. TechCrunch reported that no single founder will hold significantly more shares or votes than the others.

The seven are chief executive Dario Amodei; Daniela Amodei, president and chair of the board; Tom Brown, chief compute officer; Jack Clark, head of public benefit; Jared Kaplan, chief science officer; Sam McCandlish, chief architect; and Christopher Olah, who leads interpretability research. They left OpenAI to start Anthropic in 2021.

The filing also shows board members lining up to buy. Reed Hastings has said he wants to buy $300 million of shares through his donor-advised fund, and fellow director Christopher Liddell wants to buy $3 million, according to TechCrunch.

Anthropic is marketing the shares to investors this week and plans to list on Nasdaq under the ticker ANT, with trading due to begin on November 19. TechCrunch reported that the offering could value the company at as much as $1.4 trillion.