General · 29 April 2026
SpaceX rules say only Musk can fire Musk
SpaceX has just told investors that nobody can sack Elon Musk except Elon Musk himself. The company's IPO filing reveals Musk can only be removed as CEO and chairman by a vote of Class B shareholders, super-voting shares with 10 votes each that he will control after listing. The arrangement gives Musk 79% of voting power despite owning 42% of SpaceX equity, with the IPO targeting a record $1.75 trillion valuation.
Reported by Reuters (via Yahoo Finance) · How we write briefs