FTX’s bankruptcy estate received about $1.3 billion for its Anthropic shares in 2024, while a hypothetical $1.5 trillion company valuation would put the sold stake at $117.6 billion on paper.
The estate collected about $1.3 billion from the sale, roughly $800 million more than FTX’s original $500 million investment. The $117.6 billion figure concerns a hypothetical value for the former holding; the estate had already sold its shares.
FTX’s $500 million investment in Anthropic in 2021 initially represented a 13.56% ownership stake. Subsequent financing had reduced that share to 7.84% by 2024. Applying 7.84% to $1.5 trillion gives $117.6 billion. The calculation holds the percentage constant, so it does not reflect any further reduction in FTX’s ownership after later financings.
Reuters reported investor discussions around a $1.5 trillion valuation, while Bloomberg separately reported a range of $1.8 trillion to $2 trillion. Those reports describe valuation talks, not an established public offering price. EconoTimes previously covered the reported Anthropic IPO valuation range.
The $1.5 trillion scenario also yields large paper values for other Anthropic backers. Menlo Ventures invested more than $1 billion, and its stake was estimated at $21.8 billion. Anthropic’s investor list also includes Iconiq, whose investments exceeded $6 billion starting in 2025; its holding was estimated at $26.4 billion. On that basis, Spark Capital’s $75 million investment in 2023, made when Anthropic was valued at about $5 billion, is estimated at $10.9 billion.
At a $1.5 trillion valuation, a 1% holding equates to about $15 billion; Sequoia and Singapore sovereign wealth fund GIC were each reported to hold about that share. Their reported contributions were about $3 billion from Sequoia and more than $4.5 billion from GIC. Bloomberg reported that Eric Schmidt’s 2021 Anthropic investment was in the tens of millions of dollars and that he held an estimated 1% stake.
Twenty-four buyers took part in the estate’s initial transaction, valued at about $884 million. Buyers included ATIC, a Mubadala affiliate, with a purchase of about $500 million; Jane Street at $100 million; and a Fidelity-affiliated fund at $45 million.
