SpaceX IPO Governance Concerns: New York, California Pension Leaders Urge Elon Musk To Scrap Extreme Control Structures

Leaders from three top U.S. public pension systems are opposing SpaceX's proposed IPO governance structure, calling it "extreme". They raised concerns over Elon Musk’s total voting control, veto power over his removal, and mandatory arbitration for shareholders. The officials represent over USD 1 trillion in assets and are seeking a meeting to discuss these protections.