Anthropic, the AI safety company behind Claude, is preparing to grant CEO Dario Amodei and other co-founders a special class of stock with extra voting power, according to reports from The Information. The move comes as the company prepares for what is expected to be one of the biggest initial public offerings in history later this year.
Control Through Structure
Under the reported plans, Amodei and his co-founders would receive supervoting shares that would insulate them from external shareholder pressure. Additionally, Anthropic is planning to maintain its existing body of non-shareholder trustees through a special class of stock that would allow them to elect a majority of members to the company's board of directors.
This dual-class structure is designed to give founders greater control over the company's strategic direction, even as they prepare to sell shares to public investors. The specifics of the voting arrangements could not be independently verified, and the plans could still change before the IPO.
Why It Matters: The 2% Founder Problem
Here's the crux of the story: Amodei himself owns only about 2% of Anthropic, according to a person close to the company. That's a relatively small ownership stake compared to founders of other major tech firms. For context, Mark Zuckerberg holds about 60% voting control at Meta through his super-voting shares, while Elon Musk has significant voting power at SpaceX through a dual-class structure.
Without the supervoting shares, Amodei and his co-founders would have limited ability to control the company's direction once it goes public. This is particularly sensitive for Anthropic, which has built its brand on AI safety and responsible development — values that could face pressure from shareholders demanding faster monetization or different product directions.
A Familiar Playbook
Dual-class structures aimed at giving supervoting power to leaders are common among founder-led companies. The model has been used by tech giants including Google (now Alphabet), Facebook, and Snap to ensure founders can pursue long-term strategies without being swayed by short-term market pressures.
However, the structure raises questions about accountability. When founders control the board and voting outcomes, shareholders have limited ability to influence major decisions — even if those decisions don't align with their interests.
Anthropic's Unique Position
Anthropic is structured as a public benefit corporation, which is legally required to balance commercial success with social and public benefit. The company also has a Long-Term Benefit Trust, an independent oversight body designed to ensure the startup delivers on its public benefit mission.
The supervoting shares could complicate this mission. While the Long-Term Benefit Trust is meant to protect Anthropic's safety-focused mandate, giving founders enhanced voting control could shift the balance of power — potentially allowing them to override the trust's recommendations in key moments.
What This Means for the AI Industry
Anthropic's move comes at a pivotal moment in the AI industry. The company is preparing for an IPO that could value it at over $200 billion, making it one of the most valuable AI companies in the world. As it goes public, the question of who controls Anthropic's direction becomes critical — not just for shareholders, but for the broader AI community.
If Amodei and his co-founders secure supervoting power, they'll be able to pursue their vision of AI safety and alignment without fear of shareholder revolt. But critics might argue that the structure prioritizes founder control over democratic governance — a tension that runs deep in the tech industry.
🔥 Hot Takes
1. Anthropic is building the perfect defense against the very investors funding its growth. The company needs billions to compete with OpenAI and Google, but it's also building walls to keep those investors from having a say in how that money is spent. This isn't just smart business — it's a statement that Anthropic's founders intend to control their destiny, regardless of who writes the checks.
2. The 2% owner getting superpowers is the ultimate founder fantasy — and nightmare for shareholders. Amodei controls barely 2% of Anthropic, yet with supervoting shares, he'll wield disproportionate control. This is the Silicon Valley dream: raise other people's money, keep other people's options, maintain your own kingdom. It works until something goes wrong and shareholders realize they have no recourse.
3. AI safety company secures safety through control, not transparency. There's a bitter irony here. Anthropic built its brand on AI safety and alignment — values of transparency and accountability. Yet its IPO structure prioritizes founder control over shareholder democracy. If the company truly believes in benevolent AI governance, shouldn't it practice what it preaches? Or is this just the next chapter in tech's ongoing battle between idealism and power?