Elon Musk Accused Of Building 'Most Management-Favorable' IPO Structure At SpaceX: Report
Key takeaways
- Top Pension officials from New York and California have written to Space X CEO Elon Musk, expressing concern over the “extreme” governance structure of the commercial space flight company ahead of its public listing.
- Notably, CalPERS had also expressed opposition to Musk’s $1 trillion Tesla Inc. pay package last year.
- The officials objected to his power over SpaceX, voting control over the stock and his de facto power over the company CEO’s removal, the report said.
Elon Musk Accused Of Building 'Most Management-Favorable' IPO Structure At Space X: Report Badar Shaikh Mon, May 18, 2026 at 5:01 AM GMT+7 7 min read SPAX.PVT TSLA Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Top Pension officials from New York and California have written to Space X CEO Elon Musk, expressing concern over the “extreme” governance structure of the commercial space flight company ahead of its public listing.
New York State Comptroller Thomas DiNapoli, as well as New York City Comptroller Mark Levine and California Public Employees’ Retirement System (CalPERS) CEO Marcie Frost, wrote a letter to Musk, accessed by Reuters on Wednesday. Notably, CalPERS had also expressed opposition to Musk’s $1 trillion Tesla Inc. pay package last year.