SpaceX may be moving ahead with a dual-class share structure for its planned initial public offering, which could be set for later this year.
The two-tiered structure would give certain shareholders additional voting power, enabling them to control the company’s direction. This would allow someone like Elon Musk to keep control over the company’s direction, even with a minority stake.
Dual-class shares are common with US tech firms. With Meta and Alphabet both deploying these two-tiered shares. The idea is that this setup allows founders to focus on long-term visions rather than day-to-day decisions. A typical structure gives insiders and founders 10 or 20 votes per share. SpaceX has not confirmed its preferred structure nor have they confirmed the reports from Bloomberg.
In addition to the IPO questions, SpaceX is also in the midst of adding additional seats to its corporate board ahead of the IPO. These additional board members will help steer the company through the IPO and drive the company’s ambitions beyond its current core business.
This pivot from the core business may already be underway with a focus on the Moon. Elon Musk recently shifted SpaceX’s long-term focus from a Mars colony to Moonbase Alpha. With proposed AI data centres in space and building a self-sustaining city on the Moon, it could be an interesting few years for SpaceX and their new shareholders.
