SpaceX IPO gives Elon Musk 10x voting via Class B
Business
SpaceX is getting ready to go public, but Elon Musk isn't letting go of the reins.
The IPO is set up so Musk keeps almost total control, thanks to special Class B shares that give him 10 times more voting power than regular investors.
Plus, new rules mean shareholders will have less say: think mandatory arbitration and no class-action lawsuits.
IPO could raise $75B, hit $1.75T
Even with these limits on shareholder rights, there's a huge buzz around the IPO. SpaceX could raise $75 billion and hit a $1.75 trillion valuation.
Experts say this move might inspire other founder-led companies to follow suit, and many investors seem willing to trade some control for a shot at big returns, especially with Musk's track record at Tesla.