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Three U.S. Pension Funds Call on Musk to Reject SpaceX's Governance Structure

GateNews
Stocks
ON1.32%
MAJOR0.31%
PUBLIC0.83%
According to reports, the leadership of three major U.S. public pension funds have raised concerns about SpaceX ahead of its planned IPO, citing "extreme" ownership arrangements and control structures that concentrate power within company management. The pension funds are calling for SpaceX to eliminate super-voting shares and establish a board with a majority of independent directors. These funds, which hold index-tracking positions on Nasdaq, are expected to become large passive shareholders in SpaceX.
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