In a striking move reflecting the escalating demand for shares in Anthropic, Storm Duncan, a tech banker and founder of Ignatious, has listed his $4.8 million estate in Marin County, California, as part of an unconventional bid to acquire stock in the AI company. In a revealing conversation with Business Insider, Duncan likened his situation to “putting a worm on the hook” to attract interest from potential share sellers. He emphasized the urgency of his situation, saying, “What’s my other option? Not being in it?”
The frenzy surrounding Anthropic is fueled by its staggering secondary market valuation of $1 trillion, largely driven by the excitement surrounding its AI-powered coding assistant, Claude Code. This surge is indicative of the company’s rapid revenue growth that has captured the attention of investors.
Duncan, who primarily resides in Jackson Hole, Wyoming, decided to offer his 13-acre, fully furnished estate in Mill Valley—a property boasting panoramic views of San Francisco, an infinity-edge pool, and a spa—specifically targeting Anthropic employees. He noted that the estate’s proximity to the company’s city offices, approximately a 20-minute commute, makes it particularly appealing to those who might be looking to liquidate their illiquid stock.
Since listing the estate, Duncan reports receiving multiple offers, some from Anthropic employees and others from earlier investors. He highlighted the intricate nature of these transactions, pointing out that even high-earning individuals can find themselves in a paradox where their stock wealth remains inaccessible, urging the need for diversification.
Duncan’s approach draws parallels with past unconventional strategies for acquiring shares in pre-IPO tech companies, such as artist David Choe’s decision to accept Facebook stock over cash for a mural job in 2005. That choice ultimately netted him around $200 million following Facebook’s public offering. Historical instances from the dot-com era also exist, where real estate owners accepted company stock as payment for leases from startups.
While some critics on social media platforms like X have labeled Duncan’s offer a publicity stunt or indicative of a potential market bubble, he remains firm in asserting the seriousness of his proposal. He clarified his inability to purchase shares directly from Anthropic, given the company’s preference for substantial investments.
Duncan detailed the challenges of buying shares on secondary markets, where sellers often impose high fees and complex ownership arrangements. He revealed that he had previously acquired Anthropic shares during its 2024 funding round, at a time when access was significantly easier. His recent experiences with Claude Code have heightened his interest in obtaining more shares, expressing confidence in its potential to enhance operational efficiency at his firm significantly.
In a landscape where tech valuations continue to soar, Duncan’s unique melding of real estate and stock acquisition underscores the innovative routes investors are willing to explore to capitalize on promising opportunities.
