Comment Comment by oldfuture And the prospectus says it plainly: "Mr. Musk will be able to control the outcome of matters requiring shareholder approval."Musk holds over 85% voting power through Class B super-voting shares (10 votes/share). Public investors combined will have 15%.What Musk Controls:- CEO removal = his consent. You can't fire him even if he destroys the company- Take business for himself. SpaceX gets a rocket deal? Musk can say "I'll do it at Tesla instead"- 85% voting forever. No expiration, no time limit, permanent control- Board elections. You have no power to elect directors you trust parent oldfuture 4 months ago
Musk holds over 85% voting power through Class B super-voting shares (10 votes/share). Public investors combined will have 15%.
What Musk Controls:
- CEO removal = his consent. You can't fire him even if he destroys the company
- Take business for himself. SpaceX gets a rocket deal? Musk can say "I'll do it at Tesla instead"
- 85% voting forever. No expiration, no time limit, permanent control
- Board elections. You have no power to elect directors you trust