Anthropic, the company behind the Claude artificial intelligence model, is seeking shareholder approval for a proposed share structure that would give its founders significant voting control after a potential initial public offering (IPO).
According to reports from The Information, Anthropic is asking shareholders to approve a special class of shares before going public. The proposed structure would allow CEO Dario Amodei and six other co-founders to collectively hold 50.1% of voting power on most shareholder matters, provided certain ownership conditions remain satisfied.
The arrangement would increase the founders’ voting influence without increasing their economic ownership. Each of Anthropic’s seven founders reportedly currently owns around 2% of the company, meaning the proposed structure would allow them to maintain decision-making authority while holding a minority share of the company’s financial ownership.
The plan follows a founder-control model similar to structures used by other technology companies, where special voting rights allow founders to retain influence after public listing. Shareholder approval is still required before Anthropic can implement the proposed structure.
Under the reported framework, the company’s board governance would operate differently from standard shareholder voting systems. Anthropic’s Long-Term Benefit Trust would continue to hold authority to select a majority of directors, while the number of board seats elected by founders would reportedly increase from two to three.
Anthropic currently operates as a public benefit corporation and has established the Long-Term Benefit Trust as an independent body designed to influence long-term decision-making. The trust holds a separate class of shares that gives it the ability to elect and remove directors, with its role intended to expand over time.
The proposed structure would therefore separate different forms of control. Founders would hold majority voting power on many shareholder decisions, while the trust would retain influence over board composition. The interaction between these governance mechanisms is expected to be a key consideration for potential investors reviewing IPO documents.
The Securities and Exchange Commission (SEC) has previously highlighted that companies with multiple share classes and enhanced voting rights can allow founders to maintain control without owning a majority of economic interests. Investors typically review IPO prospectuses for details about voting rights, share classes, and corporate governance structures.
Anthropic has reportedly taken steps toward a potential U.S. public listing, although final timing, valuation, and offering details remain subject to change. A public prospectus would provide additional information about the company’s financial position and proposed share structure.
The possible IPO comes as discussions around Anthropic’s valuation continue. Recent reports have suggested potential fundraising and valuation figures at significantly different levels, while previous private funding rounds and secondary-market estimates have provided separate indications of company value.
The company’s potential public offering has also attracted attention from trading platforms offering exposure to private-market valuation movements. These products provide price exposure linked to Anthropic’s implied valuation but do not represent ownership of company shares or provide shareholder rights such as voting or dividends.
Market participants may continue watching Anthropic’s IPO process, governance structure, valuation discussions, and how investors evaluate founder-controlled models among major artificial intelligence companies.
