Elon Musk’s SpaceX is weighing a dual-class share structure as it prepares for a potential initial public offering later this year, according to a new report from Bloomberg News.
Citing people familiar with the matter, the report says the move could help Musk retain greater control of the company after it goes public. A dual-class structure typically gives certain shareholders — often founders and early insiders — shares with enhanced voting rights.
The IPO itself is expected to be massive. SpaceX could seek a valuation exceeding $1.5 trillion, making it one of the most closely watched public offerings in recent history. The company has expanded its scope in recent years, including the acquisition of Musk’s artificial intelligence startup, xAI.
In preparation for the listing, SpaceX is also reportedly adding new members to its board of directors. The expanded board would help guide the IPO process and support Musk’s ambitions to grow the company beyond its core rocket launches and satellite operations.
Discussions are still ongoing, and final details of the offering could change. SpaceX did not immediately respond to a request for comment from Reuters.
While Tesla, Inc. does not currently use a dual-class voting structure, Musk has previously said he believes owning about 25% of a company provides enough voting power to maintain meaningful influence.
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