Who’s really in charge at Anthropic after the IPO?

Anthropic's public benefit company status, a Long Term Benefit Trust that elects a majority of the board, and a founders' stock class holding 50.1% of voting power will leave common shareholders with little say over major decisions, including board seats. The board's nominating committee can also block the trust's picks for one of its four directors and send the decision to employees, while founders' control ends ten years after the IPO or when fewer than three founders remain.