SpaceX mulls dual-class share structure for IPO
14 Feb 2026

SpaceX, the US-based rocket and satellite manufacturer founded by Elon Musk, is considering a dual-class share structure for its upcoming initial public offering (IPO), according to Bloomberg.

The move is similar to a strategy proposed by Musk for Tesla Inc.

The two-tier structure would give select shareholders stock with extra voting power, allowing them to dominate decision-making.

Implications of dual-class structure
Control preservation

The dual-class structure would allow insiders, including Musk, to retain control of the company even with a minority stake.

This strategy is common among US tech firms such as Meta Platforms and Alphabet Inc., and is often pitched as a way for founders to focus on long-term vision.

However, critics argue it makes them less accountable by giving them more votes per share than ordinary shareholders.

Musk's stance on dual-class shares
Control concerns

Musk has previously praised the tiered structure and even suggested creating a dual class of Tesla shares to maintain at least 25% voting control in the company.

In 2024, he had said, "That's not so much that I could control the company, even if I go bonkers."

Currently holding about 11% of the shares, his compensation package could increase his stake to 25% or more over the next decade.

SpaceX's IPO and AI ambitions
Funding goals

SpaceX is planning to hold an IPO later this year, which could raise as much as $50 billion.

The funds would be used to finance artificial intelligence (AI) data centers in space and a factory on the Moon.

The company recently acquired Musk's xAI, expanding its operations into the field of artificial intelligence beyond its core rocket and satellite business.