Anthropic plans IPO with special governance structure

On 28 October 2026, The Verge reported that Anthropic, ahead of its upcoming IPO, has proposed a special governance structure that seeks to preserve its AI safety mission while entering public markets. The company, as a public benefit corporation, must balance a social mission; four of the seven board seats are appointed by a long-term benefit trust, and the founders hold 50.1% of voting power through Founder LLC. Several law professors said ordinary shareholders would struggle to influence the board, but noted that founders' own shareholdings, a Founder LLC sunset triggered on departure and fundraising competition could still erode safety commitments. TechCrunch reported the same day that the long-term benefit trust can elect and remove a majority of board members, and special shares held jointly by the seven founders give most of them 50.1% of shareholder votes and the ability to elect three directors, leaving ordinary shareholders with little say over most major decisions, including board appointments.

Written by AI from the reports · updated 48 min ago