Elon Musk will retain majority control of SpaceX post-IPO through a dual-class share structure granting him 85.1% voting rights.
SpaceX filed an S-1 registration with the SEC for a Nasdaq IPO under ticker SPCX, offering Class A shares with one vote each. The company will maintain a dual-class structure, with Class B shares carrying ten votes per share.
Elon Musk holds 12.3% of Class A shares and 93.6% of Class B shares, securing 85.1% combined voting power. The filing exempts SpaceX from independent board majority requirements, designating it as a controlled company.
Musk will remain CEO, CTO, and chairman, retaining authority to appoint or remove Class B directors. The company does not plan to pay dividends to Class A shareholders in the near term.