Disclaimer: This article is for educational purposes only and is not investment advice.
AI disclosure. Researched and drafted with the help of Claude, made by Anthropic, the company discussed. All figures are from Anthropic’s S-1; the analysis is Financial Gurkha’s.
Part of our Anthropic S-1 series. Full analysis: Inside Anthropic’s S-1: The Complete Breakdown of the IPO Filing.
The 60-Second Version#↑ Contents
| Executive | 2025 total pay | Base salary now |
|---|---|---|
| Dario Amodei, CEO | $17.96M | $1.38M |
| Daniela Amodei, President | $16.41M | $1.38M |
| Krishna Rao, CFO | $0.72M | $1.25M |
- The co-founders are paid identically. All seven are on equal pay. Two are executives.
- Most of the 2025 total was equity and security costs, not cash.
- New grants vest only once the IPO registration takes effect.
- The real money is ownership: roughly 240 million shares each, about $14 billion at the last private price, with 80% pledged to charity.
What's in this report#
- The 60-Second Version
- 1. The 2025 Pay Table
- 2. How Pay Has Changed Since 2025
- 3. The Current Structure
- 4. Ownership: Where the Wealth Is
- 5. The Philosophy Behind It
- Frequently Asked Questions
1. The 2025 Pay Table#↑ Contents
| Salary | Stock awards | Option awards | All other | Total | |
|---|---|---|---|---|---|
| Dario Amodei | $654,167 | $9,264,932 | $4,028,558 | $4,010,641 | $17,958,298 |
| Daniela Amodei | $654,167 | $9,264,932 | $4,028,558 | $2,461,341 | $16,408,998 |
| Krishna Rao | $706,250 | — | — | $14,000 | $720,250 |
What “all other” contains:
| Item | Dario | Daniela |
|---|---|---|
| Personal security (protection, home security, drivers) | $2,745,874 | $1,293,629 |
| Personal private-air travel required by security program | $97,055 | — |
| Spread on shares repurchased in the June 2025 tender offer | $1,153,087 | $1,153,087 |
| 401(k) match | $14,000 | $14,000 |
Security was set after an independent security study, citing “bona fide business-related, heightened security concerns.”
2. How Pay Has Changed Since 2025#↑ Contents
The S-1 discloses executive pay for 2025 onward; earlier years are not reported. Base salaries have more than doubled since early 2025:
| Effective | Dario and Daniela Amodei (each) | Krishna Rao |
|---|---|---|
| Jan 2025 | $600,000 | $700,000 |
| Jun 2025 | $700,000 | — |
| Dec 2025 | — | $850,000 |
| Jan / Feb 2026 | $915,000 | $1,250,000 |
| Jul 2026 | $1,380,000 | — |
Equity grants, and the price they were struck at:
| Grant | Each co-founder executive | Krishna Rao |
|---|---|---|
| Jun 2025 | 992,500 options at $2.38; 1,717,000 RSUs | — |
| Feb 2026 | 1,431,490 options at $17.66; 2,374,010 RSUs | 1,122,840 options at $17.66; 1,862,140 RSUs |
| Jul 2026 | 537,430 co-founder RSUs | — |
The option strike price rose more than sevenfold in eight months, from $2.38 to $17.66. That tracks how fast the company’s valuation climbed. All figures reflect the 10-for-1 stock split of September 2026.
3. The Current Structure#↑ Contents
Stock-based pay is large company-wide, not just for executives: it was $2.2 billion in the first half of 2026, and it is the biggest item Anthropic adds back to reach its “adjusted” operating income.
| Element | Detail |
|---|---|
| Base salary | $1.38M (co-founders), $1.25M (CFO); reviewed twice a year |
| Options | Vest monthly over one year |
| RSUs | Vest quarterly after a service start date, and only once the IPO registration is effective |
| Severance (Oct 2026) | 24 months of salary for the co-founders, 12 for the CFO, plus 12 months of vesting acceleration, if terminated without cause |
| Perks | Security, private air for Dario under his security program; $2.5M each paid for the Amodeis’ antitrust (HSR) filing fees |
4. Ownership: Where the Wealth Is#↑ Contents
Each co-founder holds roughly 232 to 245 million Class A shares:
| Co-founder | Class A shares beneficially owned |
|---|---|
| Dario Amodei | 240,637,980 (plus 4,621,120 under voting proxies) |
| Daniela Amodei | 241,408,940 |
| Tom Brown | 244,173,040 |
| Jack Clark | 242,271,840 |
| Jared Kaplan | 242,351,170 |
| Sam McCandlish | 231,809,780 |
| Christopher Olah | 242,882,420 |
At the Series H price of $58.90 per common share (May–June 2026), 240 million shares are worth about $14.1 billion (our arithmetic). The co-founders have each pledged 80% of their personal equity to philanthropy.
5. The Philosophy Behind It#↑ Contents
The filing sets out three rules:
- Pay targets the 90th percentile of the AI development market.
- The same role, level and location gets the same pay. All seven co-founders are paid equally.
- Plan design stays simple. Most pay is equity that vests over years.
Frequently Asked Questions#↑ Contents
How much did Dario Amodei make in 2025? $17,958,298 in total, per Anthropic’s S-1. That is $654,167 of salary, $9.26 million of stock awards, $4.03 million of option awards and $4.01 million of other compensation, mostly personal security.
What is Dario Amodei’s salary now? His annual base salary was raised to $1,380,000 effective July 1, 2026, the same as President Daniela Amodei.
How many Anthropic shares does each co-founder own? Roughly 232 to 245 million Class A shares each as of September 30, 2026, after the 10-for-1 stock split.
Read the complete analysis: Inside Anthropic’s S-1: The Complete Breakdown of the IPO Filing
Methodology and Sources#↑ Contents
From Anthropic, PBC’s Form S-1 filed October 26, 2026: “Executive Compensation” and “Principal and Selling Stockholders.” Share-value estimates are Financial Gurkha calculations. SEC EDGAR.