Anthropic's Unbeatable Share
Seven people will be at the helm of one of the biggest technology disruptors ever…
On Monday, Anthropic finally unveiled the details behind its long-awaited initial public offering ("IPO")…
And it could beat SpaceX's history-making IPO earlier this year.
According to Anthropic's filing with the Securities and Exchange Commission, the company hopes its share price will support a market cap between $1.5 trillion and $2 trillion. That would put it in the top 10 most valuable companies in the world.
Investors have spent the week picking apart all the data – like growth, revenue retention, and sales – to figure out if Anthropic will be worth such an immediately gargantuan price. It makes sense that most folks are paying attention to the numbers.
But one interesting piece of information that isn't getting as much attention is the type of shares Anthropic will offer…
Company stock can come in various share classes. Berkshire Hathaway, Warren Buffett's longtime holding company, is a classic example…
Berkshire has two different types of shares trading on the stock market, each under different tickers: BRK-A and BRK-B. Both share classes are available to the public, but they aren't created equal.
If you were to buy one BRK-A share, you'd pay around $817,000 as we write, while one BRK-B share is trading around $542. But a Class A share has 10,000 times as much voting power as a Class B share. And it's "only" 1,500 times more expensive.
So even if you bought $816,000 worth of BRK-B shares, you'd still have less say over the company's governance than someone with a single share of BRK-A.
Not every company has different share classes. And even the companies that have them might not use the classifications in the same way. For example, Alphabet's A shares are publicly traded shares under the ticker GOOGL that come with one vote. Alphabet's B shares are only held by company insiders and have 10 times the voting power. And the company also has C shares with the ticker GOOG that have no voting rights at all.
Anthropic is doing even more with its share classes... And in one way, the company's founders get the biggest win.
Once Anthropic goes public, anyone can buy its Class A shares under the ticker "ANT." But the company will have four other types of stock…
- Class E shares are offered to employees, excluding the founders, with limited voting rights.
- Class N shares are available to business partners. They offer no voting rights, and are converted to Class A shares when sold or transferred to an unaffiliated third party.
- Class T is a single share held by Anthropic's "Long-Term Benefit Trust." The trust includes five people who have the power to add or remove board members, but the share has no common voting rights or economic benefits.
- Class F is a single share reserved for Anthropic's founders. This share won't have any economic benefit, but grants 50.1% voting control. This unbeatable share means no other investor can outvote the seven founders.
According to the founders, this structure will help Anthropic continue as a public benefit corporation rather than one focused solely on shareholder returns. Their idea is that the Class F share will help Anthropic be "consistent with [its] long-term commitment to AI safety and responsibility."
Skeptics might wonder whether Anthropic's founders are truly committed to AI safety instead of profits, especially after whistleblower and former employee Jacob Coxon said those in the industry believe their technology could end humanity.
I'm not worried about AI leading to Armageddon. But we have seen AI companies lose control of their technology, with autonomous "rogue agents" failing to follow instructions. And we know that hackers and other bad actors can use AI tools for their crimes.
On the other hand, we've seen incredible benefits from AI, like supercharging drug discovery and tailoring patient treatment.
There's a lot of debate about whether Anthropic is good for society and whether it's a good investment. But for the latter point, the better move is to tune out that noise.
The best investments are rarely the ones that everyone already knows about. When you find something that nobody's paying attention to, you'll often find a better opportunity.
Two of my colleagues have found one. They're focused on a new technology that could spawn a new class of AI companies. They said these companies' stocks could soar this year – bull or bear market – and they're still available at a historically good price. Click here to learn more.
Now, let's get to this week's Q&A... And as always, keep sending your comments, questions, and topic suggestions to feedback@healthandwealthbulletin.com. My team and I read every e-mail.
Taking Vitamin C for Cold Season
Q: Do you recommend taking a vitamin C pill this time of year to prevent colds? Thanks. – A.J.
A: Vitamin C has been one of my go-to supplements for years.
Your body can't make vitamin C, so you have to get it through other means. Once it's in your body, it acts as a powerful antioxidant and helps make collagen – the structural protein that holds your skin, bones, blood vessels, and connective tissue together. It also helps you absorb iron and make certain chemical messengers in the brain, and it aids in wound healing and supports immune function.
A 2023 analysis of 10 studies involving healthy people taking at least 1,000 milligrams ("mg") of vitamin C daily found that it reduced the severity of cold symptoms by about 15% compared with a placebo, especially during the worst stages.
The biggest benefit showed up during the more severe stage of the cold. In other words, regular supplementation may make you a little less miserable if you do happen to catch a cold.
The best place to get vitamin C is from your diet – foods like leafy greens, bell peppers, and tropical fruits. But I also like to boost my intake with a powdered supplement. I take about 500 milligrams ("mg") daily, mixed into water.
Vitamin C is also available in capsules and tablets, like you mentioned. But they sometimes have fillers and other ingredients mixed in. The crystal powder I take is pure vitamin C.
In the most recent issue of my Retirement Millionaire newsletter, I also shared why you should take vitamin C when you have surgery and why it's important to get enough vitamin C every day. Plus, I detailed two other supplements that make up the foundation of my "health portfolio."
If you're not already a subscriber, click here to get started today.
What We're Reading...
- Did you miss it? Focus on the right kind of stock buyback.
- Something different: We're getting an extra hour of Halloween this year.
Here's to our health, wealth, and a great retirement,
Dr. David Eifrig and the Health & Wealth Bulletin Research Team
October 30, 2026