Eric Schmidt’s fortune is about to get even bigger. The former Google CEO is reported to own about 1% of Anthropic after investing tens of millions of dollars in the leading AI lab’s Series A round in 2021, according to Bloomberg. The startup was valued at $461 million at the time, according to PitchBook data.

If Bloomberg’s estimate is accurate, Schmidt’s stake is remarkably large compared with the 2% of the company that co-founder and CEO Dario Amodei holds. Anthropic is widely expected to go public before the end of the year, with top-end market estimates valuing the company at as much as $2 trillion. At that valuation, Schmidt would add as much as $20 billion to his net worth, which Bloomberg currently puts at $57.5 billion.

Schmidt has been an active tech investor since stepping down as Google CEO in 2011.  He deploys capital through multiple entities, including Tomorrow Ventures, Innovation Endeavors Management, and his family office, Hillspire. His other AI bets include Mistral, General Intuition, and Reflection AI.

Schmidt and Anthropic didn’t immediately respond to our request for comment.