Anthropic founders will receive $236-264 million

Anthropic founders will sell shares in an IPO that could reach a valuation of $1.4 trillion. Moreover, according to the new S-1 document, they will receive approximately $250 million in cash per person at a medium price. However, control of the company will still remain in their hands.

Anthropic founders will sell 3,378,378 shares per person

Each of the seven founders will sell 3,378,378 shares. The company also set an unusually wide initial price range of $70 to $78 per share.

At $70: just over $236 million per person

At $74 (midpoint): Just under $250 million

At $78: Just under $264 million

However, in IPOs that attract such intense interest, companies can price shares above the initial range.

The S-1 document also gives clues about the demand. Board member Reed Hastings said he wanted to buy $300 million worth of shares through the donor advisory fund. On the other hand, board member Christopher Liddell plans to buy shares worth $ 3 million.

Who are the founders?

The seven founders are:

Dario Amodei, CEO

Daniela Amodei, president and chief executive officer

Tom Brown, chief information officer

Jack Clark, public interest officer

Jared Kaplan, chief science officer

Sam McCandlish, principal architect

Christopher Olah, interpretability research leader

Seven people left OpenAI in 2021 and founded Anthropic. The reason for the separation was disagreements with OpenAI management on how to develop artificial intelligence. Dario and Daniela Amodei, who are siblings, held senior research and policy roles at OpenAI. In addition, the company clearly says that it has focused more on artificial intelligence security than its competitors from the very beginning.

Shareholding and voting power

After the sale, each founder will own approximately 3.2 percent of the outstanding Class A shares. In total, this rate is approximately 22 percent. However, this ratio does not show the shares of Anthropic founders in the entire company. Because class A is just one of Anthropic's share classes. Owners such as Amazon and Google hold Class N shares with no voting rights. Therefore, the founders' share in the total capital will remain much smaller.

They are in control. Each founder will receive one Class F share carrying super voting rights. Together they will hold 51.1 percent of the vote. No founder will have significantly more shares or votes than others.

The final price of the IPO is not yet clear. If there is high demand, the sales price of Anthropic founders may be determined above the $ 70-78 range in the S-1 document.