After SpaceX's IPO, CEO Elon Musk Will Control 82.4% of the Company's Voting Power. Is That Good for Investors?
The deal would raise $75 billion and value SpaceX at $1.77 trillion while giving Elon Musk immediate control of 82.4% of voting power.
- SpaceX's initial public offering on Friday, June 12 will sell 555,555,555 shares at $135 each, raising $75 billion and valuing the space-tech company at approximately $1.77 trillion.
- CEO Elon Musk will retain roughly 82.4% of total voting rights through Class B shares worth 10 votes apiece, ensuring he maintains final say in shaping the company's operations and future.
- SpaceX plans to be a "controlled" public company, leaving ordinary shareholders with fewer governance protections than typical firms. Eric Hoffmann, chief data officer at Farient Advisors, called the arrangement "marketing 101."
- To fully cash in, Musk must hit extraordinary benchmarks including a $7.5 trillion market cap and a "permanent human colony on Mars with at least one million inhabitants." SpaceX describes these targets as "improbable."
- SpaceX relocated to Texas, where legal challenges to leadership decisions are harder to mount. Jay Ritter, a University of Florida finance professor, said, "If you don't like it, you don't have to buy it at that price.
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Elon Musk's SpaceX is set to go public on Friday, but investors are wary, saying investing in the company is like gambling in a casino.
SpaceX normally counts down to a rocket launch. This week, Elon Musk and his space company are counting down to the largest IPO ever. On Friday, SpaceX makes its debut on Wall Street and aims to raise approximately 75 billion dollars. But what kind of company are investors actually getting their hands on?
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