SpaceX Just Revealed Only Elon Can Fire Elon, Here’s How That’s Possible

SpaceX is due for a potential-trillion-dollar IPO, which brings with it increased scrutiny into the company’s internal workings. One revelation from the rocket manufacturer’s IPO filing is that Elon Musk can only be fired by… err, Elon Musk?

According to the document, Elon “can only be removed from our board or these positions by the vote of Class B holders.” Now, if I’m understanding this correctly, Class B is anyone with super-voting shares and because Musk has the majority of these shares, he controls the vote and thus the decision if he gets fired or not.

Related article: Elon Made Head Of Efficiency, Immediately Fires Self

This has all come about because of the standard structure that startup IPOs often take. It’s called a ‘dual-class framework’ and it keeps the founders and other insiders in a separate tier of power (Class B) to the public shareholders (Class A, which sounds better tbh), theoretically keeping everyone happy.

For comparison, Meta has this structure but Tesla has a single share class.

BUT USUALLY the board reserves the right to fire the CEO if they get a bit too big for their boots. You know, checks and balances. For some reason SpaceX has waived that right.

Now only Elon can fire Elon, which would make for a very strange exit interview.

Oddly enough, Musk himself warned about this exact scenario in November last year on a Tesla shareholder call about his pay package, “I just think that there needs to be enough voting control to give a strong influence, but not so much that I can’t be fired if I go insane.”

Not sure why he’d bring that up as an option, but OK.

And again last August, “I think my control over Tesla should be enough to ensure that it goes in a good direction, but not so much control that I can’t be thrown out if I go crazy.”

Well, now we’re all very much hoping you don’t go crazy, Elon, because if that happens at SpaceX, no, you can’t be fired.

But then again… who would be crazy enough to fire themselves? Only a crazy person. So if Elon did go crazy he would in fact fire himself. IT’S A FOOLPROOF PLAN!

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