"SpaceX has proposed an unprecedented governance structure that would give Musk nearly unchecked executive power, according to Reuters. And the only person who could fire Musk as CEO is Musk himself. SpaceX seeks to achieve this via super-voting Class B shares, mandatory arbitration, and stricter rules on shareholder proposals."
SpaceX has accelerated its timeline for a public offering, with reports indicating an IPO price as soon as June 11 and a Nasdaq debut the following day under ticker SPCX. The company may file publicly as early as Wednesday, with a roadshow starting June 4. SpaceX previously targeted late June. The company seeks to raise up to $75 billion at a $1.75 trillion valuation, which would exceed Saudi Aramco’s 2019 record. SpaceX dominates rocket launches and operates more than 10,000 Starlink satellites. It supports NASA and the Pentagon, including missile-defense efforts. The company also proposes governance changes granting Musk near-unchecked executive power through super-voting shares, arbitration, and limits on shareholder proposals.
Read at Fortune
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