SpaceX considering dual-class shares in IPO, Bloomberg News reports

• The planned IPO could value SpaceX at over $1.5 trillion, making it one of the largest public offerings in history
• Dual-class share structures typically give founders greater voting power than their economic ownership stake would normally allow, enabling Musk to maintain control
• SpaceX is adding board members to oversee the IPO and expand operations beyond its core rocket and satellite businesses

SpaceX Explores Dual-Class Share Structure for Potential $1.5 Trillion IPO

Elon Musk's SpaceX is considering implementing a dual-class share structure for a planned initial public offering that could value the space company at over $1.5 trillion, according to Bloomberg News. The dual-class framework would grant certain shareholders, particularly Musk, enhanced voting rights while holding less equity, similar to structures used by companies like Meta and Alphabet.

Key Developments:

• SpaceX is planning a blockbuster IPO targeted for 2026
• The company is currently adding board members to oversee the IPO process and guide expansion beyond its core rocket and satellite operations
• SpaceX recently acquired Musk's artificial intelligence startup xAI
• Deliberations remain ongoing, and IPO details could change

Context:

While Musk's Tesla does not currently employ a dual-class voting structure, Musk has previously stated he requires approximately 25% voting control in his companies. The dual-class structure would allow him to maintain significant control over SpaceX's strategic direction while potentially reducing his required equity stake.

Market Implications:

A $1.5 trillion valuation would make SpaceX one of the most valuable public offerings in history, significantly impacting the aerospace and technology sectors. The dual-class structure may attract scrutiny from governance advocates who criticize such arrangements for limiting shareholder rights, though they remain popular among founder-led tech companies seeking to preserve long-term strategic control.

SpaceX did not immediately respond to requests for comment. The company's expansion beyond traditional space launch services signals broader ambitions in the commercial space industry.