Elon Musk Can Only Be Fired By Himself At SpaceX, Filing Shows Ahead Of IPO

April 30, 2026

Amid the buzz around its IPO, SpaceX has reportedly revealed that CEO Elon Musk can only be fired from his position at the top of the commercial space flight giant by one person: Musk himself.

On Wednesday, Reuters reported that it had accessed filings by SpaceX that revealed Musk could only be removed from his role by Class B shareholders, which hold the voting power of 10 votes. A dual-class framework involves companies issuing two classes of shares, Class A shares with 1 vote and Class B shares with 10 votes.

SpaceX didn’t immediately respond to Benzinga‘s request for comment.

SpaceX said that if Musk continues to hold on to a “significant” amount of Class B shares for an “extended” time, the billionaire could “control the election” as well as the “removal of a majority of our board,” the filing cited in the report said. This could effectively mean that the CEO cannot be removed from his role without his consent.

However, the impact of the provisions is dependent on SpaceX’s legal documents, according to experts cited in the Reuters report. SpaceX also shared in the filings that the dual-class framework of the IPO would limit the investors’ ability to “influence corporate matters.”

Amid the IPO buzz, Musk’s reported pay package has been in the news cycles as it could help Musk gain over 200 million super-voting restricted shares if the commercial space flight company can achieve a market cap of $7.5 trillion and establish a colony on Mars with 1 million inhabitants.

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