Source: CNBC
Summary
Elon Musk will have majority control over SpaceX after the company’s IPO, with over 50% of the voting power. This level of control is unusual for a publicly-traded company, and exceeds the control held by other tech founders. Musk’s control will be more akin to a monarch’s grip on the company.
Our Reading
The announcement sounds ambitious.
Musk’s majority control is a bold move, but it’s not exactly a new concept. We’ve seen this kind of centralized power before in tech, and it usually ends with the founder having absolute control. The IPO will just be a formality. Musk’s grip on SpaceX will be tighter than his grip on Twitter.
Author: Evan Null
