Former Google CEO's 1% stake in Anthropic could bring huge gains.

Former Google CEO Eric Schmidt holds about 1% of the startup Anthropic thanks to an early investment, a stake that could deliver one of the largest single personal windfalls as Anthropic heads toward an IPO. Schmidt put tens of millions of dollars into Anthropic's Series A round. It is unclear whether he has sold any shares since his initial investment. Based on the company's valuation in its last funding round, each of the startup's seven co-founders is already worth $8 billion. PitchBook data shows that Schmidt, 71, first bet on Anthropic in 2021, when the company was valued at $461 million. Last week, investors said a reasonable valuation range for the company is about $1.8 trillion to $2 trillion. Taking the upper end of that range, Anthropic's current valuation is more than 4,300 times its Series A valuation.