Anthropic’s trust and founders would retain most control after an IPO

Anthropic’s proposed IPO would give public shareholders limited influence over major decisions, including board appointments. The company’s governance is designed to protect its AI safety mission, but its layered voting arrangements mean control would rest mainly with a trust, the founders and, in some cases, employees.

Anthropic is a public benefit company, so its board can consider its stated mission alongside profit. A Long Term Benefit Trust can elect and remove a majority of the board, while the seven founders collectively hold 50.1% of shareholder voting power and can elect three directors. The board can refer certain trust appointments or removals to an employee vote, and the article says divisions among founders could give ordinary shareholders more influence than expected.