Who will benefit most from SpaceX IPO? Mostly Elon — and a few from his inner circle

While there are some shocking revelations in Space X s S-1 as it gets ready to become a public company, Elon Musk s total control of the company perhaps isn t one of them.

I could argue that the oddball provision where Elon Musk gets up to a billion more shares to add to his already oversized, company-controlling cache once a million people are living on Mars (yes, really), is perhaps the most jaw-dropping. It is also fairly unserious. Musk controls and can vote those shares now, by the way.

But even a billion extra super-voting rights shares are immaterial in this company s setup because Musk is, by miles, the largest shareholder in the company.