# Anthropic founders can appoint successors to voting control

Markdown copy of https://realalpha.app/s/anthropic-founders-can-appoint-successors-to-voting-control/ on Real Alpha, the best minutes from long interviews with the people building AI. Cite and link the page, not this copy.

- Speaker: [John Coogan](https://realalpha.app/people/john-coogan/) (Host) · Co-host, TBPN · Co-founded Soylent and Lucy; OpenAI bought his show TBPN in April 2026.
- Host: [Jordi Hays](https://realalpha.app/people/jordi-hays/) · Co-host, TBPN · Founded Branded Native; co-founded fintech Capital, which Rho bought.
- Show: TBPN
- Episode: [Technology Is Back, Gavin Baker Live, Math Solved Again, Anduril Laptop, DoorDash + Instacart](https://realalpha.app/v/OV1QfQ3C29Q/), Oct 27, 2026
- Moment: 36:07 to 39:19 of the episode (3 min), playing on https://realalpha.app/s/anthropic-founders-can-appoint-successors-to-voting-control/; the episode from there: https://realalpha.app/v/OV1QfQ3C29Q/?t=2167

## Quote

> “Anthropic's IPO includes a **private line of succession**, confidential lists of would-be heirs to its founders' voting power”
> — [John Coogan](https://realalpha.app/people/john-coogan/) at [36:37](https://realalpha.app/v/OV1QfQ3C29Q/?t=2197) · TBPN

## Takeaways

1. Founders can name confidential heirs to voting power.
2. Other founders must approve those successors.
3. The structure plans for leadership beyond the current founders.

## About this segment

A report describes confidential successor lists for the founders' voting power, approved by the other founders. It is an unusual succession plan for a company thinking beyond its current leadership.

From “Technology Is Back, Gavin Baker Live, Math Solved Again, Anduril Laptop, DoorDash + Instacart”, Oct 27, 2026. [Watch the full episode](https://realalpha.app/v/OV1QfQ3C29Q/)

## Transcript

Transcribed by machine (Whisper) from the episode’s audio, so a word may be off here and there.

[36:14](https://realalpha.app/v/OV1QfQ3C29Q/?t=2174) There's more interesting reporting from the Anthropic S1. Anthropic founders apparently can name secret successors. We were discussing this yesterday. We were like, okay, so there's seven founders that all have the class F shares or something. What was it? Isn't it one class F share? It's a single class F share. Yeah, that is held by Founder LLC. Founder LLC. And Forbes is reporting that the Anthropic founders can name secret successors.

[36:44](https://realalpha.app/v/OV1QfQ3C29Q/?t=2204) Anthropic's IPO includes a private line of succession, confidential lists of would-be heirs to its founders' voting power, chosen by the founders and approved by one another. So you actually have to go to the rest of the group and say, I'm giving this to my son or I'm giving this to my brother or my, my, my shrimp spouse, my shrimp. I don't know. Whatever, whatever you want to do. My dog, my domesticated bear.

[37:10](https://realalpha.app/v/OV1QfQ3C29Q/?t=2230) I don't know. But yeah, I mean, clearly they have thought several steps ahead of what the reporting is. This rocks. There's no one, there's no one, there's no company doing it like this. uh hasn't elon said he's gonna give his companies to these kids i thought that was like a whole thing yeah he's he's doing hereditary yeah but a lot of a lot of talk a lot of talk and let's see if it actually this is like they're setting it's much harder for elon i think it's going to be a bit harder right these are these are seven live players that decided on a structure yeah and of Of course, things could change over time, but this feels, like, quite different.

[37:55](https://realalpha.app/v/OV1QfQ3C29Q/?t=2275) And it's cool to be thinking – it's cool to see a company thinking in centuries. Yeah, it's true. Yeah. Beyond decades. Yeah, what other American dynasties are still going to Walmart? But, yeah, Kanner says they're going to give it to a future model. Oh. ASI run board. Yeah, it's one share for the final model. They could have some sort of contract between them that in Founder LLC, the decisions are actually made by the model, which would be interesting.

[38:25](https://realalpha.app/v/OV1QfQ3C29Q/?t=2305) Who knows? I have a feeling that's not the way it goes, though. It doesn't feel like that's the plan. But I don't know. I'm still very interested. Is Ben Bernanke happy about this? He's on the super board. I forget what it's called, the trustee board or something above the board. like yasmin is on the actual board and then bernanke and there's two other like super board members and the founder llc is kind of like the cool kids table yeah so so how does the how does the bernanke board feel about it i don't know um we'll see it's a lot of different governance a lot of different governance a lot of a lot of a lot of stuff to untangle for the media but Good luck out there if you're reporting on Anthropic.

[39:13](https://realalpha.app/v/OV1QfQ3C29Q/?t=2353) Fireside Alpha.