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Exclusive-Musk and insiders to retain voting control of SpaceX after IPO, filing shows
The filing shows a dual-class structure that gives Musk and insiders 10 votes per Class B share while public investors get one vote each.
- SpaceX's S-1 IPO filing, made public this month, targets a $1.75 trillion valuation and $75 billion raise while cementing founder Elon Musk's control through a dual-class share structure granting him roughly 79% voting power.
- Musk consolidated the rocket maker with his xAI company earlier this year, shifting the narrative toward 'Orbital AI Data Centers' and Grok integration to justify the record valuation across Starlink, Starship, and AI operations.
- The company swung to a $4.94 billion consolidated loss in 2025 on $18.67 billion revenue as heavy AI infrastructure investments offset $4.42 billion in operating profit from Starlink's satellite internet business.
- Public investors receive Class A shares with one vote each, while Musk retains super-voting Class B shares. Former Fidelity fund manager George Noble called the structure 'the most SHAMELESS structural manipulation of a major index.'
- SpaceX executives are hosting three days of analyst meetings this week at the Starbase launch facility in Boca Chica, Texas, as the company targets a June listing on the Nasdaq.
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SpaceX's goal is a listing evaluation of about $1.75 trillion with an increase of $75 billion.
·Brazil
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Musk, insiders to keep voting control of SpaceX after IPO
SpaceX plans to cement founder Elon Musk's control after its IPO, granting him and a small group of insiders super-voting shares that will outweigh other investors, according to excerpts of the company's IPO filing reviewed
·Ireland
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SpaceX’s public IPO filing confirms Musk and insiders retain dominant voting control
The now-public S-1 prospectus shows Musk controls roughly 79% of SpaceX’s votes despite owning approximately 42% of its equity, a gap created by a dual-class share structure. The company is targeting a June listing at a $1.75 trillion valuation, a raise of up to $75 billion, and an unusually large 30% retail investor allocation. SpaceX’s […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Coverage Details
Total News Sources13
Leaning Left1Leaning Right3Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
13%
C 50%
R 37%
Factuality
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