Tech Banker Offers California Estate in Exchange for Anthropic Shares
Storm Duncan, founder of investment bank Ignatious, proposes trading his $4.8 million Mill Valley estate for shares in AI company Anthropic, aiming to increase his stake amid the company's soaring valuation.
Storm Duncan, founder of the tech-focused investment bank Ignatious, is offering his $4.8 million Mill Valley estate in exchange for shares in Anthropic, a leading artificial intelligence company. Duncan, who already holds Anthropic shares from a 2024 funding round, seeks to increase his stake as the company's valuation has surged to approximately $1 trillion in secondary markets.
The 13-acre property features panoramic views of San Francisco, an infinity-edge pool, and a spa. Duncan believes the estate's proximity to Anthropic's offices makes it particularly appealing to the company's employees who may hold illiquid shares.
Duncan has received multiple offers since listing the property, including from Anthropic employees and early investors. He acknowledges the complexity of such transactions but views this approach as a means for shareholders to diversify their holdings.
This unconventional proposal underscores the intense demand for Anthropic shares and reflects a broader trend of creative exchanges for pre-IPO tech company stocks. Similar instances include artist David Choe accepting Facebook stock as payment for murals, which later yielded significant returns.
Duncan emphasizes the legitimacy of his offer, noting that acquiring shares directly from individuals offers more transparency and potential tax advantages compared to secondary market purchases.