Anthropic paid $2,745,874 for personal security services for chief executive Dario Amodei in 2025, according to the Form S-1 it filed with the SEC on 26 October 2026. His total 2025 compensation in the filing’s Summary Compensation Table was $17,958,298.
President Daniela Amodei’s company-paid personal protection, home security and transportation cost $1,293,629, within a 2025 total of $16,408,998. The filing says the board required the measures after independent security studies.
Business Pill · AN OPTION
A short Business Engineer explainer on what an option is. It teaches the general idea only and says nothing about Anthropic or its filing.
The key insight: As we read it, the new element is the size of the security line next to the salary line: $2,745,874 of personal security services for Dario Amodei in 2025, against a salary of $654,167, by the S-1’s own table.
Update, 30 Oct: How it compares with Meta.Meta’s 2026 proxy statement reports, for Mark Zuckerberg in 2025, about $8,498,301 for personal security at his residences and during personal travel, a $14,000,000 annual pre-tax security allowance, about $2,467,562 for personal use of private aircraft and $160,040 of facilities improvements to facilitate travel.
By our arithmetic those lines total about $25.1 million, about 9.2 times the $2,745,874 Anthropic reports for Dario Amodei’s personal security services; without the aircraft and facilities lines, about $22.5 million, or 8.2 times.
Livemint reported the comparison as a $25 million security bill, 9x Amodei’s. The two filings define their security lines differently, so the comparison is approximate.
Update, 28 Oct: Bloomberg picks up the security spending.Bloomberg reported on 28 October, under the headline “Anthropic Is Spending Millions to Protect Dario Amodei and Employees.” The figures above are taken from the S-1 itself.
The S-1 says “the protection of our senior leadership is a critical priority for our company and our stockholders” and that, in 2026, Anthropic “began offering certain security services” to chief financial officer Krishna Rao.
Beyond executives, the risk factors note that “our offices and the data centers that host our infrastructure, many of which are operated by third parties, are also exposed to physical threats,” and that a physical intrusion could “provide a path to our systems and data, including our model weights.”
The S-1 lists three named executive officers for 2025. Salaries were the smallest element for both co-founders, and chief financial officer Krishna Rao was paid a higher salary than either.
Executive
Salary
Stock awards
Option awards
All other
Total
Dario Amodei, Chief Executive Officer
$654,167
$9,264,932
$4,028,558
$4,010,641
$17,958,298
Daniela Amodei, President
$654,167
$9,264,932
$4,028,558
$2,461,341
$16,408,998
Krishna Rao, Chief Financial Officer
$706,250
—
—
$14,000
$720,250
Source: Anthropic, PBC Form S-1, filed with the SEC on 26 October 2026, Executive Compensation, Summary Compensation Table for the year ended 31 December 2025. Stock and option awards are grant-date fair values, not the value realised.
2025 total compensation for Dario Amodei ($17,958,298) and Daniela Amodei ($16,408,998) from the Summary Compensation Table in Anthropic’s Form S-1 filed 26 October 2026, split into stock awards, option awards, security, the June 2025 tender-offer spread, salary and other items. Shares are our arithmetic.
Bloomberg posted that Anthropic, which has around-the-clock security operations, is spending millions to protect executives and staffers as AI backlash intensifies, citing the company’s IPO filing.
What ‘All Other’ Contains
Item in ‘All Other Compensation’
Dario Amodei
Daniela Amodei
Personal security services
$2,745,874
—
Personal protection, home security and transportation
—
$1,293,629
Private air travel for personal use, under his security program
$97,055
—
Spread on shares repurchased in the June 2025 tender offer
$1,153,087
$1,153,087
401(k) company matching contributions
$14,000
$14,000
Share of a valuation report
$625
$625
Source: Anthropic, PBC Form S-1, filed with the SEC on 26 October 2026, footnotes (3) and (4) to the Summary Compensation Table.
By our arithmetic, Dario Amodei’s personal security services were about 15% of his reported 2025 total, and about four times his salary.
Why the Board Says It Pays
The S-1 says that in 2025 “a leading security consulting firm conducted independent, third-party security studies regarding the personal and security risks of our Chief Executive Officer and our President”. Based on those studies and increased media attention, it says, “our board of directors determined that enhanced personal security services were necessary to increase the safety and protection of Dr. Amodei and Ms. Amodei, and to avoid an impact to our business continuity if a security incident occurred”.
The measures included individual protection, including of family members, enhanced home security, private car and driver services and, for Dario Amodei, “the use of private aircraft for both business and personal travel”. The filing calls the services “comparable to those provided to senior leaders of comparable high-profile companies in the technology industry”, and adds: “We did not pay expenses for personal security for any other NEOs in 2025, except in connection with business-related travel.”
For 2026, the filing says the co-founders’ base salaries rose to $915,000 from 16 January and to $1,380,000 from 1 July, and Krishna Rao’s to $1,250,000 from 1 February. “In addition, we began offering certain security services to Mr. Rao.”
Connecting the Coverage
Our customers piece reported the single Class F share, held by the co-founders, that carries 50.1% of the voting power. Our fundraising piece covered the $65.2 billion Series H. Our S-1 piece reported the headline numbers. What is new here is the cost of keeping the two co-founders who run the company safe.
The Structural Read
As we read it, the filing presents the cost as a business-continuity expense the board required after independent security studies, not as a benefit the executives chose.
The S-1 shows most of each co-founder’s reported 2025 pay as equity at grant-date value: $9,264,932 of stock awards and $4,028,558 of option awards each. As we read it, cash salary was the smallest part of the package.
As we read it, the programme is widening rather than ending: the filing says certain security services began for chief financial officer Krishna Rao in 2026.
Anthropic, PBC Form S-1, 26 October 2026
“We did not pay expenses for personal security for any other NEOs in 2025, except in connection with business-related travel.”
Three Implications
FOR INVESTORS The S-1 reports 2025 totals of $17,958,298 for Dario Amodei and $16,408,998 for Daniela Amodei, most of it equity awards at grant-date fair value.
FOR BOARDS The filing describes security services required by the board after independent, third-party security studies, disclosed because they may be deemed perquisites.
FOR AI EXECUTIVES The S-1 calls the measures comparable to those for senior leaders of comparable high-profile technology companies.
The framework opens on Anthropic’s position: “It is becoming the first major AI lab actively attempting to define the governance layer of the AI stack.”
As we read it, the S-1’s security disclosures show the personal side of that position: the board treats the safety of the two co-founders as a business-continuity matter. The framework was published in June 2026 and does not discuss this filing.
What Is Not Established
The 2025 table is the only full year the S-1 gives for executive pay, and it gives no 2026 security cost. The stock and option figures are accounting values at grant, not what the executives may realise. The security studies themselves are not in the filing, and the S-1 gives no specific threat.
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Anthropic’s S-1 reports $2,745,874 of personal security services for Dario Amodei in 2025, within total compensation of $17,958,298, and $1,293,629 of protection, home security and transportation for Daniela Amodei. The board says independent studies made the measures necessary, and in 2026 it began offering security services to chief financial officer Krishna Rao.
A note on sourcing. All figures are from Anthropic, PBC’s Form S-1 filed with the SEC on 26 October 2026, Executive Compensation section; percentages and multiples labelled as ours are our arithmetic. Earlier reports are as covered in our pieces linked above. This is not investment advice. We did not contact Anthropic.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
