Anthropic is moving forward with its massive IPO, which could value the company at $1.4 trillion. In their new S-1 filing, the company revealed specific details regarding the sale of shares by its seven co-founders.
Each founder intends to sell 3,378,378 shares. The company has proposed a broad initial price range of $70 to $78 per share. At the mid-point of $74, each founder stands to take home just under $250 million.
The potential payout varies depending on the final share price. At the low end of the range ($70), each would pocket slightly over $236 million, whereas at the high end ($78), they would receive just under $264 million.
Given the anticipation surrounding this IPO, shares are often priced above the initial range.
The S-1 document suggests strong demand, as board member Reed Hastings plans to purchase $300 million worth of shares through his donor-advised fund, and board member Christopher Liddell intends to buy $3 million worth.
The seven co-founders include CEO Dario Amodei, President and Board Chair Daniela Amodei, Chief Compute Officer Tom Brown, Head of Public Benefit Jack Clark, Chief Science Officer Jared Kaplan, Chief Architect Sam McCandlish, and Interpretability Research Lead Christopher Olah.
Following the sale, each individual founder will own approximately 3.2% of the outstanding Class A shares, totaling about 22% collectively. However, this is not their total equity stake, as Class A represents only one of Anthropic's share classes. Non-voting Class N shares are held by Amazon and Google, meaning the founders' overall equity percentage is smaller. Nevertheless, they maintain control of the company. Each founder will receive one share of Class F stock, which carries supervoting rights, allowing the group to control 51.1% of the votes without any single founder holding a disproportionate amount.
As a known part of industry history, the group left OpenAI in 2021 following disagreements regarding the development of AI. Siblings Dario and Daniela Amodei, who previously held senior research and policy roles at OpenAI, were joined by five colleagues to form a company that has publicly prioritized AI safety from its inception.
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