Source: CNBC
Summary
Elon Musk will have more than 50% of the voting power in SpaceX after the company’s IPO, giving him significant control over the publicly-traded company. This level of control is unusual for a tech founder and has been compared to a monarchical grip. Musk’s voting power will be greater than that of other prominent tech founders.
Our Reading
The launch follows a familiar script.
Musk gets more control, because that’s what visionaries need, right? SpaceX’s IPO will make him the king of the castle, with over 50% of the voting power. Because what could possibly go wrong with one person having that much control? It’s not like we’ve seen that before in tech history. Musk’s grip on SpaceX will be tighter than most, and we’re sure that won’t lead to any conflicts of interest.
Author: Evan Null
