双重股权结构
Governance arrangement using share classes with unequal voting rights to let founders retain control with limited economic stake
Anthropic is set to list next week at a valuation near $1.3 trillion, raising $80B or more partly through a private placement to investors including Google, per WSJ. Each of the seven founders plans to sell roughly $250M of stock while retaining about $18B apiece, and a founder-controlled LLC holding a single Class F share guarantees them 50.1% of votes on most matters, leaving public shareholders with economic exposure but almost no control.
Anthropic's updated prospectus shows its seven co-founders will each sell 3.3784 million shares in the IPO, cashing out roughly $250 million apiece at the $74 midpoint, for a combined $1.75 billion. The company plans to offer 825 million Class A shares on Nasdaq under the ticker ANT at a valuation of up to $1.4 trillion, while founders retain 50.1% voting control through a Founder LLC and a special Class F share.