Musk to Retain Absolute Control of SpaceX, Holding 82.4% Voting Power Post-IPO

BlockBeats News, June 12th - Despite Elon Musk selling part of his stake through IPO, he has not relinquished control of SpaceX. According to the company's prospectus, after the IPO, Musk will still hold 82.4% of SpaceX's total voting power, maintaining absolute control over major decisions of the company.

SpaceX employs a dual-class stock structure, where Class B shares have 10 votes per share, while Class A shares have only 1 vote per share. After the IPO, Musk will continue to hold the vast majority of Class B super-voting shares, allowing him to retain overwhelming control in board elections, M&A transactions, and other significant corporate decisions. Unlike many tech companies where control gradually disperses after going public, SpaceX will remain a Musk-controlled public company.