Anthropic has been preparing to give CEO Dario Amodei and other co-founders a class of stock with extra voting power to assist insulate them from external shareholder pressure, the Information reported on Tuesday, citing two residents familiar with the matter.
The company is additionally planning to maintain its existing body of non-shareholder trustees with a special class of stock to elect a majority of members to the company’s board of directors.
The specifics of the voting arrangements could not be learned, and the plans could still change, the report stated.
Anthropic did not immediately respond to a Reuters request for comment.
Such a move would mark the first time Anthropic’s leaders would have extra voting power. The Claude maker’s co-founders hold relatively small ownership in the company, compared to founders of other tech firms.
But dual-class structures aimed at giving supervoting power to leaders are common among founder-led companies, and is designed to provide founders greater control and insulate them from short-term shareholder pressure.
SpaceX’s dual-class structure, for instance, gives founder and CEO Elon Musk significant voting power. At Meta, CEO Mark Zuckerberg holds about 60% voting control by way of his ownership of super-voting shares.
The reported move at Anthropic comes as the business prepares for a potential initial public offering later this year. It is anticipated to be one of the biggest market debuts in history.
Anthropic is structured as a public benefit corporation. It is legally required to balance commercial success with social and public benefit. The company additionally has a Long-Term Benefit Trust, an independent oversight body that exists to make sure the startup delivers on its public benefit mission.
Related stories
Marvel Tōkon: Fighting Souls is the best tag fighter out there right now
Bringing spectator spectacle and excellent tag mechanics, Marvel Tōkon: Fighting Souls checks all the boxes of what an exemplary tag fighting game should be
Tamil Nadu must not lose its industrial vision
The State needs a government that identifies the industries of the future, builds the capabilities they require, and measures success by the number of…
SpaceX shares skyrocket as money raised hits $85.7 billion
Demand for SpaceX's shares was so strong that the banks running the sale exercised a so-called greenshoe option
Possibilities and pitfalls of facial recognition system | Explained
How does facial recognition work? How is FRS being used in India? Why is FRS concerning in the present form?