WSJ: Anthropic’s 7 founders will each sell about $250M of stock in its IPO and keep roughly $18B apiece.

Each plans to sell nearly 3.4M shares at a projected range of $70 to $78, according to Tuesday’s company filing.

The listing, expected next week, would value Anthropic near $1.3T and raise $80B or more, partly via a private placement to investors including Google.

Once trading starts, each founder keeps about 3.2% of Class A shares, so together they hold roughly 22% of outstanding stock.

That stake carries only about 11.2% of voting power, yet a founder-controlled LLC holding a single Class F share guarantees them 50.1% on most shareholder votes

Public buyers of Anthropic's shares therefore get economic exposure with almost no say over control, which the filing warns could put decisions at odds with shareholders’ financial interests.