New York Times: How Does SpaceX Use 'Unconventional Design' to Strengthen Musk's Control?
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Author:小编   

On May 27, The New York Times published an article stating that SpaceX has solidified CEO Elon Musk's control through unusual board setups and compensation arrangements. In January this year, SpaceX granted Musk a compensation package that includes 1.3 billion restricted shares, contingent on the company establishing a colony on Mars and launching high-performance data centers into space. Although Musk has not yet achieved these goals, according to the prospectus, he can still exercise voting rights for these shares in shareholder votes. Additionally, SpaceX does not plan to have a majority of independent directors on its board, nor does it have an independent compensation committee. All shareholder claims must be resolved through arbitration. These measures have allowed Musk to hold approximately 85% of the shareholder voting rights, consolidating his control. SpaceX is currently valued at over $1.25 trillion, with an IPO potentially happening as early as next month.