# Leaders of three of the biggest U.S. public pension systems say they have major concerns over SpaceX's "extreme" ownership and control set-up.

*aerospace · news · 2026-05-14 · MarketScreener*

## Key points

- SpaceX plans to incorporate mandatory arbitration for shareholder claims, excluding traditional class-action rights.
- Musk could only be removed as CEO by a vote of Class B shareholders, which he controls.
- Texas reincorporation means shareholders must own 3% of SpaceX to initiate derivative litigation.
- SpaceX seeks early inclusion in the Nasdaq 100, potentially making it an unavoidable holding for major index funds.
- SpaceX's governance structure will allow bypassing requirements for an independent board and key committees.

**Companies:** SpaceX, Tesla
**Countries:** United States

[Read the full story on MarketScreener](https://www.marketscreener.com/news/new-york-california-pension-leaders-oppose-extreme-spacex-control-structure-ce7f5bdcd08cfe2d)

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