Anthropic IPO may mint new billionaires. Would it boost Prop 40 tax haul?
Anthropic CEO Dario Amodei, pictured at the White House in September. The AI giant’s founders — who are already multibillionaires — would likely be subject to the proposed billionaire tax if they were California residents as of Jan. 1.
TL;DR
- Anthropic has filed to go public, potentially as early as mid-November, with valuations estimated between $1.5 trillion and $2 trillion.
- California's Proposition 40 proposes a one-time tax on net worth exceeding $1 billion for residents as of January 1, 2026.
- An Anthropic IPO could turn some existing multimillionaires into billionaires, making them subject to the Prop 40 tax.
- The valuation of Anthropic holdings for tax purposes could be complex, especially if the company remains private or faces market fluctuations.
- Prop 40's revenue estimates vary widely, with proponents predicting over $100 billion and critics suggesting much lower amounts and potential negative economic impacts.
- The tax revenue generated is intended for California's healthcare system, education, and food assistance programs.