Overview
- Elon Musk said on X Friday that SpaceX plans to structure its governance so he cannot be fired and to tie any giant payout to mission milestones such as a self‑sustaining Mars colony.
- Reporting based on company filings describes a dual‑class share system where Class B stock holds 10 times the votes of Class A and controls who can remove the CEO.
- Gizmodo, citing Reuters, notes language that removal power would rest with Class B holders, which would leave the board with little ability to oust Musk.
- The Financial Times reporting, echoed by the Times of India, says the company is targeting a June 12 Nasdaq debut and could seek about $75 billion at a roughly $1.75 trillion valuation, though these plans remain unconfirmed.
- Musk argued that these protections prevent short‑term investor pressure, which he says could push leaders to chase earnings bonuses instead of long‑horizon projects like Starship and future Mars work.