SpaceX considering dual-class shares in IPO, Bloomberg News reports

Feb 13 (Reuters) – Elon Musk’s SpaceX is considering a dual-class share structure in its planned IPO this year, Bloomberg News reported on Friday, citing people familiar with the matter.

The space firm, which acquired Musk’s artificial-intelligence startup xAI, is planning a blockbuster public offering this year that could value it at over $1.5 trillion.

Companies with dual-class structures have two or more types of shares with different voting rights — usually one with greater voting rights for founders or early investors and another for other shareholders with less voting power.

SpaceX is also in the process of adding members to its board of directors, the Bloomberg report said, to oversee the IPO process and expand Musk’s space goals outside its main rocket and satellite business.

Deliberations are ongoing and details of the IPO could change, the report added.

SpaceX did not immediately respond to a Reuters request for comment.

Though EV company Tesla does not currently have a dual-class voting structure, Musk has said he needs to own a significant stake – roughly 25% – to have enough voting influence.

(Reporting by Juby Babu in Mexico City; Editing by Krishna Chandra Eluri)