Eric Schmidt Set for $15–20 Billion Payday from Anthropic IPO
· Business · Times of India, Fortune
Former Google CEO Eric Schmidt owns about a 1% stake in Anthropic, which could be valued between $15 billion and $20 billion ahead of the company's upcoming IPO. Schmidt invested tens of millions of dollars in Anthropic's Series A round in May 2021, backing the startup just months after its founding by former OpenAI researchers Dario and Daniela Amodei. Investors have discussed a valuation of $1.5 trillion to $2 trillion for Anthropic, though private market data shows its Series A post-money valuation was about $623 million. Google entered later in late 2022, acquiring roughly 10% of the company for about $300 million at a $3 billion valuation. Anthropic submitted its draft IPO papers to the US Securities and Exchange Commission on June 1, with a public filing expected as early as October 26 and a listing in mid-November. The report does not clarify whether Schmidt has sold any portion of his initial holding since 2021.
Why it matters
The upcoming public offering highlights the massive private fortunes generated by early investments in generative AI startups. Schmidt's personal return reflects the soaring valuations commanded by foundational model developers ahead of public market debuts.
Read the original report — Times of India
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