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In an X post on Friday, Elon Musk warned future shareholders that while returns could be massive eventually, those who invest in SpaceX should not \u201cexpect entirely smooth sailing along the way,\u201d and that he must be allowed to focus on his mission of making human life \u201cmultiplanetary.\u201d I\u2019m thinking you should heed is warning. After all, if you\u2019re considering buying SpaceX stock, what do you think will happen at SpaceX after the expected IPO next month? You can\u2019t be picturing SpaceX becoming some boring pillar of economic stability like AT&T, can you? Speaking to his employees in February, Musk described his dream for the future of SpaceX as one full of space catapults, a Dyson sphere around the sun, and AI that feeds on secret knowledge previously known only to long-dead aliens.<\/p>\n
In other words, if you\u2019re imagining good old fashioned American capitalist enterprise with healthy profits, dividends, and market-friendly competition, like something from a 1940s propaganda film, you\u2019re investing in the wrong company. To wit: SpaceX\u2019s corporate governance regime will be set up in such a way that the CEO and chairman cannot be fired, according to a report last month from Reuters. SpaceX will have different classes of stock with different power levels. Class A for pension funds and Robinhood users\u2014plebs, in other words\u2014and Class B for people who matter. Class B stock will carry ten times the voting power of Class A stock, and Musk will control the Class B stock.<\/p>\n
The IPO filing, part of which is excerpted in the Reuters article, spells this out. Musk \u201ccan only be removed from our board or these positions by the vote of Class B holders.\u201d If Musk \u201cretains a significant portion of his holdings of Class B common stock for an extended period of time, he \u2060could continue to control the election and removal of a majority of our board.\u201d Basically, Musk stays in both positions as long as he wants, and can easily veto any effort to fire him. Common shares without voting power aren\u2019t rare these days, but a powerless board is. As a Harvard corporate governance expert named Lucian Bebchuk explained to Reuters, \u201cUsually removal of the CEO is a decision left to the board, and controllers rely on their power to replace the board.\u201d<\/p>\n
So if you own stock in SpaceX, you\u2019re just along for the ride. On Friday, in response to a Financial Times article about SpaceX\u2019s draconian governance scheme, Musk explained himself. Sort of: Yes, I need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars, not pandering to someone\u2019s bullshit quarterly earnings bonus! Obviously, IF SpaceX succeeds in this absurdly difficult goal, it will be worth many orders of\u2026 \u2014 Elon Musk (@elonmusk) May 15, 2026 \u00a0 \u201cI need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars,\u201d he wrote. He often does this. In response to criticism\u2014or just as often in response to fans shielding him from criticism\u2014he would say some variation on if people are mean to me, humanity will never be multiplanetary.<\/p>\n
For instance, when CleanTechnica leapt to his defense after Bernie Sanders criticized him over income inequality in 2021, he replied, \u201cI am accumulating resources to help make life multiplanetary & extend the light of consciousness to the stars.\u201d That same year, in response to handwringing from European finance ministers about his potential monopoly over satellite launches, he posted, \u201cSpaceX is developing rockets needed to make life multiplanetary \u2014 full & rapid reusability at large scale.\u201d Also in 2021, when the FAA expressed concern that SpaceX had overstepped his clearance from the federal government, he wrote about how much he hated the FAA\u2019s space division, saying, \u201cTheir rules are meant for a handful of expendable launches per year from a few government facilities. Under those rules, humanity will never get to Mars.\u201d Some are predicting shortly after the IPO, the accompanying increase in SpaceX\u2019s valuation will cause Musk\u2019s net worth to cross the trillion-dollar threshold. This isn\u2019t a trivial side effect. Elon Musk is more or less signaling that he is the protagonist of humanity\u2019s future, and everyone else is an NPC. Do you believe that? Then by all means buy the stock (This is not financial advice). In an X post on Friday, Elon Musk warned future shareholders that while returns could be massive eventually, those who invest in SpaceX should not \u201cexpect entirely smooth sailing along the way,\u201d and that he must be allowed to focus on his mission of making human life \u201cmultiplanetary.\u201d I\u2019m thinking you should heed is warning. […]<\/p>\n","protected":false},"author":1,"featured_media":3817,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[676],"tags":[752,1470,1471],"class_list":["post-3816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-ai","tag-elon-musk","tag-ipo","tag-spacex"],"_links":{"self":[{"href":"https:\/\/daiilynews.cu.ma\/index.php?rest_route=\/wp\/v2\/posts\/3816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/daiilynews.cu.ma\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/daiilynews.cu.ma\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/daiilynews.cu.ma\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/daiilynews.cu.ma\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3816"}],"version-history":[{"count":0,"href":"https:\/\/daiilynews.cu.ma\/index.php?rest_route=\/wp\/v2\/posts\/3816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/daiilynews.cu.ma\/index.php?rest_route=\/wp\/v2\/media\/3817"}],"wp:attachment":[{"href":"https:\/\/daiilynews.cu.ma\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/daiilynews.cu.ma\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/daiilynews.cu.ma\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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