Story perspectives

Musk’s 48.4% SpaceX stake gives him 84% voting power

8/22/2026

Summary

Musk Controls SpaceX

Elon Musk controls roughly 48.4% of SpaceX, translating to about 82%–84% of total voting power.
He holds 6.42 billion shares across Class A, Class B trusts, restricted shares, and options.
Each Class B share carries ten votes, giving Musk 93.6% of Class B voting power.
SpaceX’s market value is $1.9 trillion, with a $1.79 trillion overall valuation and 96-times 2025 sales.
His 366-day lockup expires June 12, 2027, and Rule 144 caps how many shares he can sell.

Summary

Musk Backs Chipplant

Terafab joint venture invests $16.8 billion to build a 100-million-square-foot semiconductor plant in Grimes County, Texas.
A full build-out could cost $119 billion and deliver one terawatt of compute, exceeding global supply.
Tesla, SpaceX and Intel formed Terafab to reduce reliance on Taiwan-made chips.
Samsung will manufacture Tesla’s AI4 chip and is contracted for AI5 and AI6.
SpaceX’s June Nasdaq listing raised about $106 billion, the largest flotation on record.

Summary

Starbase Incorporates

Starbase incorporated as a city in May 2025 after Cameron County voters approved measure.
All city commissioners and the mayor are SpaceX employees, giving the company direct municipal control.
Starbase is creating its own police department as part of municipal expansion.
The city plans to annex 7,133 acres near the 7-mile Boca Chica Beach stretch.
SpaceX’s reusable rockets drove a record 71 launches at Vandenberg and 109 at Florida in 2025.

History

Historical Context

SpaceX’s 2008 RatSat launch marked the first orbital flight of a privately funded liquid-propellant rocket, securing NASA’s COTS funding that later funded Falcon 9 development. The company’s rapid cadence grew to a record 165 Falcon 9 launches in 2025, illustrating how early private-sector breakthroughs have reshaped U.S. launch capacity and market dynamics.

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Musk Controls SpaceX

Elon Musk controls roughly 48.4% of SpaceX, translating to about 82%–84% of total voting power.
He holds 6.42 billion shares across Class A, Class B trusts, restricted shares, and options.
Each Class B share carries ten votes, giving Musk 93.6% of Class B voting power.
SpaceX’s market value is $1.9 trillion, with a $1.79 trillion overall valuation and 96-times 2025 sales.
His 366-day lockup expires June 12, 2027, and Rule 144 caps how many shares he can sell.

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