The listing SpaceX remains completely under Musk’s control – Goals reminiscent of science fiction

Possibly a space company going public as early as next month SpaceX:n the listing will require an extraordinary amount of faith from the investors in the company’s success and its CEO To Elon Musk. Wall Street Journal sources say that the IPO date would be June 12. The date may still change.

According to the financial newspaper Financial Times, SpaceX has proposed one of the most aggressive management models in the history of the United States. Its purpose is to ensure that Musk cannot be fired. Musk is also offered a reward package of up to one thousand billion dollars, which is tied to the construction of a colony on the planet Mars.

In addition, the company’s valuation is expected to rise to 1,750 billion dollars in the listing.

According to the Financial Times, however, the IPO is finding investors who are willing to accept weak shareholder rights and a science fiction-like business strategy to get in on the biggest IPO of all time.

According to the newspaper’s sources, the board of SpaceX has approved a compensation package based on which Musk could receive up to 200 million B-series shares if the company’s value rises to 7.5 trillion dollars and it establishes a colony of one million people on Mars.

According to the Financial Times, Musk’s goal is to list the space company next month. The timing would coincide with a rare planetary alignment, his 55th birthday on June 28, and the United States’ 250th anniversary on July 4.

The company is rumored to raise about $75 billion at a $1.75 billion valuation.

New York and California public pension fund regulators wrote to SpaceX this week expressing “serious concerns” about what they called “the most management-friendly governance structure ever in such a large US IPO.”

According to the Financial Times, Musk would control the super majority of the company’s B series shares. Series B shares would have ten times the voting power compared to ordinary shares. The magazine’s sources are people familiar with the S-1 listing document, which was confidentially submitted to the US Securities and Exchange Commission SEC last month.

According to the information, the world’s richest man already owns at least 40 percent of the shares and more than 80 percent of the voting power of the company he founded in 2002.

Musk would serve as both CEO and chairman of SpaceX’s nine-member board. Gwynne Shotwellseen as Musk’s more down-to-earth, “getting things done” counterpart, would continue as the company’s president and chief operating officer.

According to the listing prospectus, Musk can only be fired by a decision of the B-series shareholders.

Addendum 15.5. at 23:34. Added information about a possible listing date.