Anthropic's governance after IPO: a complex structure with dispersed powers

Anthropic, an AI lab preparing for its IPO, has designed an unusual corporate governance structure to prioritize AI safety over shareholder returns. According to TechCrunch, its *public benefit company* status shields it from investor lawsuits when making mission-driven decisions.

The governance relies on four pillars: a board chaired by Daniela Amodei (president) and including her brother Dario Amodei (CEO), Reed Hastings (Netflix co-founder), and others; an independent *Long Term Benefit Trust* (LTBT) tasked with upholding the company’s human-centric mission and able to appoint or remove a majority of directors; a group of seven founders holding a special class of shares granting them 50.1% of voting rights; and a mechanism allowing employees to challenge LTBT decisions through an internal vote.

This setup, inspired by past tensions at OpenAI, aims to balance founder control, employee power, and mission protection. Founders' control will end ten years after the IPO or if fewer than three remain. The LTBT could then be dissolved by a shareholder vote or board decision, shifting control to common shareholders.