"Musk holds approximately 42% of SpaceX's equity but controls roughly 79% of its votes through super-voting shares that carry disproportionately higher voting rights per share."
"Ordinary shares sold to public investors will carry standard voting rights, meaning buyers will gain an economic stake in the company but no meaningful ability to influence its direction."
"The overall $1.75 trillion target valuation implies a revenue multiple of approximately 100x, reflecting investor bets on future growth across Starlink, Starship, and the xAI artificial intelligence operations."
Musk's control over SpaceX is maintained through a dual-class share structure, allowing him to hold 79% of the voting power with only 42% equity. The company plans to go public with a valuation of $1.75 trillion and aims to raise up to $75 billion, allocating 30% to retail investors. SpaceX's financials reveal $15 billion to $16 billion in annual revenue and $8 billion in profits for 2025, with Starlink contributing significantly to these figures. The valuation reflects expectations of future growth rather than current performance.
Read at TNW | Business
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