# SpaceX has adopted corporate governance policies that will erode typical shareholder protections.

*business · news · 2026-05-07 · Rappler*

## Key points

- SpaceX's IPO will use supervoting shares to let Musk retain over 50% of voting power post-listing.
- Shareholders will be forced into private arbitration and cannot bring class actions or sue in court.
- SpaceX's move to Texas leverages new state laws that further erode traditional investor protections.
- Only Musk, his family, and selected entities can own supervoting Class B shares, not the public.
- Shareholder proposals now require at least $1 million or 3% of SpaceX stock to force a vote.

**Companies:** SpaceX, Tesla, Newground Social Investment, Dishmi Capital, ERShares
**Countries:** USA

[Read the full story on Rappler](https://www.rappler.com/technology/features/spacex-initial-public-offering-analysis/)

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