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SpaceX to Adopt Dual-Class Share Structure After IPO to Ensure Musk Retains Control
Reuters, citing SpaceX's IPO filings, reported that SpaceX plans to adopt a dual-class share structure, granting founder Elon Musk and a small group of insiders super-voting shares...
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Reuters, citing SpaceX's IPO filings, reported that SpaceX plans to adopt a dual-class share structure, granting founder Elon Musk and a small group of insiders super-voting shares to limit the influence of public investors.

Upon completion of the listing, Musk will continue to serve as Chief Executive Officer, Chief Technology Officer, and Chairman of the Board. Musk received only USD54,080 in compensation last year, but following the IPO, he will be granted equity worth tens of billions of US dollars.

Related NewsReport: Bezos-Founded AI Startup Project Prometheus Nears USD10B Funding Round
According to the IPO filings, after merging with xAI this year, SpaceX had approximately USD24.8 billion in cash as of the end of last year, with total assets of USD92 billion and total liabilities of USD50.8 billion. SpaceX's satellite internet business Starlink generated billions of US dollars in profit last year. However, due to substantial investments in AI infrastructure for xAI, SpaceX recorded a net loss of USD4.94 billion last year, with capital expenditures reaching as high as USD20.74 billion. (mn/a)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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