A banker wants to trade his $4.8 million California estate for shares in Anthropic. He's already gotten offers.

In a bold and unconventional move, a tech banker is offering his stunning $4.8 million California estate in Marin County in exchange for shares in the highly sought-after AI company, Anthropic. Storm Duncan, founder and managing partner of the tech investment bank Ignatious, has sparked interest with this unique proposition, stating, "If you're going fishing, you've got to put a worm on the hook. What's my other option? Not being in it?" The frenzy surrounding Anthropic's stock has intensified, with its valuation reportedly skyrocketing to $1 trillion in secondary markets, fueled by significant investor enthusiasm over its rapid revenue growth and the success of its AI coding assistant, Claude Code. Duncan, who primarily resides in Jackson Hole, Wyoming, felt his estate would be particularly appealing to Anthropic employees, prompting him to list the property. The 13-acre estate boasts breathtaking views of San Francisco, an infinity-edge pool, and a spa, all within a convenient 20-minute commute to Anthropic's offices. Duncan remarked, "No one from Anthropic probably wants my Miami or Jackson Hole place." By putting his property on the market, Duncan aims to attract current Anthropic employees who may be looking to liquidate some of their shares, which are currently illiquid until the company goes public. Since announcing the offer, he has already received multiple serious inquiries, including from Anthropic employees and early investors. Duncan highlighted the plight of many potential investors who, despite high earnings or substantial net worth, find themselves unable to access their wealth due to the illiquidity of their stock holdings. He noted, "There's probably a decent number of people who are sitting in a one-bedroom apartment in San Francisco even though they're earning $400,000 a year and are worth $100 million." This isn't the first instance of creative strategies to gain shares in pre-IPO tech firms. Notably, artist David Choe once chose Facebook stock over cash for mural work, a decision that later netted him an estimated $200 million after Facebook's IPO. Despite skepticism from some observers who view Duncan's offer as a mere publicity stunt, he asserts that his intentions are genuine and not aimed at garnering attention. He explained that as a smaller investor, he finds it nearly impossible to acquire shares directly from Anthropic, which typically engages with larger investors capable of making significant financial commitments. While the alternative of purchasing shares on secondary markets exists, Duncan cautioned that such transactions can be fraught with hidden fees and complicated ownership structures. He himself owns shares in Anthropic from an earlier funding round and is motivated to increase his stake following the impressive performance of Claude Code at his firm, which he believes could significantly enhance operational efficiency and reduce costs.