Anthropic founders to sell $1.75B of stock in IPO

Anthropic's seven co-founders plan to sell a combined $1.75 billion of stock in the company's initial public offering next week, according to an updated prospectus released Tuesday. Each founder is offering about $250 million of shares at the midpoint of the price range. Bloomberg reports that this is only about 1.5% of each founder's total stake. Each would be left with a net worth of about $18 billion, according to the Bloomberg Billionaires Index.bloomberg.com+1

Who is selling

The sellers are CEO Dario Amodei, President and Chair Daniela Amodei, Chief Compute Officer Tom Brown, Anthropic Institute head Jack Clark, Chief Science Officer Jared Kaplan, Chief Architect Sam McCandlish and interpretability research lead Christopher Olah. TechCrunch reports that each is selling nearly 3.4 million shares, which works out to about $250 million apiece at the $74 midpoint. The prospectus shows that Dario and Daniela Amodei, who are siblings, also sold shares in tender offers in June 2025 and April 2026, Bloomberg reported. Forbes notes that each co-founder has pledged to give 80% of their Anthropic shares to charity. The prospectus says those pledges can be revoked and are not legally enforceable, according to Forbes.finance.yahoo.com+2

Founders keep control

After the offering, the founders will still control the company. The Wall Street Journal reported that each founder would own about 3.2% of the Class A stock. Together they would hold close to 22% of shares outstanding but only about 11.2% of the votes those shares carry, Quartz reported, citing the Journal. However, an entity the founders control holds a single Class F share that gives them 50.1% of the vote on most shareholder matters. CNN reports that critics have pointed to this concentration of power. Lock-up rules differ for other insiders: some non-founder insiders can sell 10% of their shares on the first day of trading, with about 23 more release dates in the first year, CNN reported.qz.com+1

Deal terms

Anthropic launched its roadshow on Tuesday. It is offering 825 million Class A shares at $70 to $78 each and plans to list on the Nasdaq ↗ 0.88% Global Select Market under the symbol "ANT." Existing stockholders are selling 23,648,646 of those shares, and Anthropic will get none of the proceeds from that portion. Seven strategic partners, including Google Alphabet Inc. ↘ 0.41% and Nvidia ↘ 6.37%, have agreed to buy $26 billion of non-voting stock at the IPO price, Fortune reported. Including that private placement, Anthropic could raise as much as $90.4 billion at a valuation of about $1.4 trillion, according to Bloomberg. Fortune notes that this is well below the $2 trillion some outlets had reported a few weeks earlier, and that the amended filing puts Anthropic's annualized revenue run rate at about $81 billion as of the end of October.anthropic.com+2

The IPO is scheduled to price on Wednesday, Nov. 18, and shares are expected to start trading on Thursday, Nov. 19, according to Bloomberg.bloomberg.com