🚀 SpaceX’s reported IPO filing is drawing attention for more than valuation.
The structure reportedly gives Elon Musk outsized control, while also identifying his departure as a major business risk.
Key concerns highlighted include:
Concentrated voting power
Limited shareholder influence
No clear succession framework
Performance targets tied to highly ambitious future milestones
The reported setup is reigniting debate around founder-led governance in public markets.
As investors assess the opportunity, governance structure may become just as important as growth potential.