Who will benefit most from SpaceX IPO? Mostly Elon — and a few from his inner circle
Elon Musk's control over SpaceX remains significant as the company prepares for its IPO. The IPO is expected to raise around $75 billion, with a post-money valuation of $1.7 trillion. Key shareholders include Musk and a few board members who stand to benefit from the company's success.
- ▪Elon Musk owns just under 850 million Class A shares and nearly 5.6 billion Class B shares in SpaceX.
- ▪The IPO is projected to raise $75 billion, making even a 1% stake worth $17 billion.
- ▪Key shareholders include Antonio Gracias, Luke Nosek, and Gwynne Shotwell, each holding significant shares.
Opening excerpt (first ~120 words) tap to expand
While there are some shocking revelations in SpaceX’s S-1 as it gets ready to become a public company, Elon Musk’s total control of the company perhaps isn’t one of them. I could argue that the oddball provision where Elon Musk gets up to a billion more shares to add to his already oversized, company-controlling cache once a million people are living on Mars (yes, really), is perhaps the most jaw-dropping. It is also fairly unserious. Musk controls and can vote those shares now, by the way. But even a billion extra super-voting rights shares are immaterial in this company’s setup because Musk is, by miles, the largest shareholder in the company.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at TechCrunch.
Discussion
0 commentsMore from TechCrunch
