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Business & Finance

Elon Musk to entrench lifetime CEO control at SpaceX

SpaceX has included in its IPO filings a governance structure that would effectively guarantee Elon Musk control for life, with removal as CEO or board chair requiring his consent. The company plans a dual-class share structure, issuing Class A shares to public investors and Class B shares with 10 votes per share to insiders. SpaceX aims to raise $75 billion at a valuation of about $2 trillion, drawing scrutiny over valuation, lockups and retail investor protection.

Industry

Coupang board draws attention after Trump taps its outside director as next Fed chair

Coupang’s board is in the spotlight after U.S. President Donald Trump nominated outside director Kevin Warsh as the next Federal Reserve chair. The company told the SEC its board has eight members spanning U.S. politics, finance and Silicon Valley. Warsh holds 444,126 Coupang shares and receives RSUs. Green Oaks founder Neil Mehta is a long-serving director, while Green Oaks has filed an investment dispute notice against South Korea.