RESOLVING THE LEDGER
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One of the most controversial aspects of Space Exploration Technologies Corp (NASDAQ: SPCX) , more commonly known as SpaceX, is the significant ownership and voting control held by CEO Elon Musk. With 42% ownership stake and more than 80% of the voting power, Musk doesn't have to worry about shareholders potentially removing him, even if they disagree with the company's performance. The power Musk yields with the company has been one of the more striking and controversial features of the stock.
For Musk, however, the reason for this type of structure is simple. He says it's to ensure that he can remain focused on the long term.
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