Key facts
- Anthropic is structured as a public benefit company focused on AI safety.
- A Long Term Benefit Trust (LTBT) holds stock giving it power to elect a majority of the board.
- Founders jointly own special stock granting them 50.1% voting power to elect three board members.
- Common shareholders will have little say in major decisions and board appointments.
- Founders' control is set to end automatically 10 years after the IPO or when fewer than three founders remain.
Anthropic, an AI company founded in 2021 with a mission to ensure AI benefits humanity long-term, is implementing a complex corporate governance structure that will limit common shareholder control post-IPO. The company's status as a public benefit corporation, coupled with a Long Term Benefit Trust (LTBT) and special founder stock, ensures that AI safety considerations can take precedence over pure profit motives. The LTBT holds the power to elect a majority of the board, while founders retain significant voting power to elect three directors. This structure aims to formalize employee influence and prioritize the company's mission, drawing parallels to governance challenges seen at other AI firms.