A single Anthropic share will carry 50.1% of the vote

That share is Class F stock. A majority vote of Anthropic’s seven co-founders, CEO Dario Amodei among them, will direct it, per the IPO filing seen by Reuters. Anthropic declined to comment. The Information first reported parts of the structure earlier in September.

The founders will sit in a new “Founder LLC”. The company’s Long-Term Benefit Trust elects four board directors, and the super-voting class starts to sunset once two or fewer co-founders remain.

The filing warns that this setup may produce decisions that conflict with financial interests and hurt Class A stock, which gets one vote per share. In our view, that’s an unusually blunt line for a prospectus that exists to sell that stock.