- SpaceX’s IPO plan includes supervoting shares that will make Elon Musk virtually unremovable with majority control, according to Reuters.
- The IPO will include mandatory arbitration and a ban on class-action lawsuits, limiting shareholders’ ability to sue.
- Musk will have the power to elect and remove board members and control mergers and acquisitions.
- SpaceX will be incorporated in Texas, using new laws that provide extra protection from activist investors and hostile takeovers.
- The IPO is expected to be the largest in history, aiming to raise up to $75 billion at a valuation of over $2 trillion.