Back Rohan Paul

Rohan Paul· @rohanpaul_ai · X· 2026-10-28 23:27 · Original publication time AI score40

Anthropic IPO would leave public shareholders with little say over its board, report saysMachine translation

Automatically verified and published · Generated and evidence-checked automatically; not reviewed by a human.

AI introduction

TechCrunch reports that Anthropic’s Long-Term Benefit Trust holds Class T shares that elect and remove a majority of directors. Another share class held jointly by the seven cofounders gives a majority of them 50.1% of shareholder votes and three board seats. The nominating committee can block the trust’s selection or removal without cause of one specified director and send the decision to an employee vote.

Original post · Original

Rohan Paul@rohanpaul_ai

TechCrunch published a piece. Anthropic’s IPO will leave public shareholders with almost no say over who sits on its board.

Its Long-Term Benefit Trust, whose members include Ben Bernanke, holds Class T stock that elects and removes a majority of directors.

The 7 cofounders jointly hold another share class giving a majority of them 50.1% of shareholder votes and 3 board seats.

The board’s nominating committee can still check the trust by blocking its choice or no-cause removal of 1 “Specified” director and sending that decision to an employee vote.

That clause formalizes the staff leverage that forced OpenAI’s board to reinstate Sam Altman after firing him in 2023.

Founder control can end by choice 10 years after the listing, or automatically once fewer than 3 founders remain.

The trust survives until 85% of common shareholders vote it out or it quits with board approval.

Investors are therefore buying a company whose control shifts among founders, trustees and employees, and any founder split would hand common shareholders more weight than expected.

23:27 · 2026-10-28 · UTC+8

Found an error? Send a correction