SpaceX IPO filing prevents Musk's removal as CEO or chairman
Business
SpaceX's new IPO filing makes it official: Elon Musk can't be removed as CEO or chairman unless he agrees to it himself.
Only Class B shareholders (who have 10 times the voting power of regular investors) can make that call, and since Musk controls those shares, he basically decides his own fate at SpaceX.
Dual class structure sidelines public investors
Unlike most companies where boards can step in if needed, SpaceX plans to adopt a dual-class share system that puts public investors (Class A) on the sidelines while insiders like Musk (Class B) keep all the real power.
Experts say this structure is common and means outside investors won't have much say in how the company is run, even after it goes public.