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Oracle’s bloodbath, Musk’s SpaceX, company “overstaff” gaslight, Jamie Dimon says
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Story of the Week (DR):
Elon Musk's SpaceX set to go public in $1 trillion share listing
Elon Musk’s rocket and satellite company SpaceX has confidentially filed for an initial public offering with the Securities and Exchange Commission
The firm could seek a valuation of $1.75 trillion with a public listing around June.
A confidential filing means that SpaceX will submit its financials to the SEC before revealing them to the public, which must occur at least 15 days before the IPO roadshow.
Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares.
Among current SpaceX owners is Donald Trump Jr, the president’s oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.
The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family’s businesses.
Public investors may get low-vote shares, while insiders could hold super-voting stock with roughly 10 to 20 votes per share, if the reported structure is adopted.
Reports suggest SpaceX has been adding board members as it prepares for the IPO process.
The company’s board has historically included Elon Musk, Gwynne Shotwell, Antonio Gracias, Luke Nosek, Steve Jurvetson, and Donald Harrison in reporting about its governance.
Gwynne Shotwell is widely reported as president and COO, and Bret Johnsen as CFO
Big Banks Seeking a Piece of SpaceX’s I.P.O. Must Subscribe to Elon Musk’s
Musk is requiring Wall Street firms to purchase subscriptions to his A.I. chatbot if they want to advise on one of the largest initial public offerings in history.
Air Canada CEO will retire this year after his English-only crash message was criticized
Michael Rousseau is stepping down following a massive public outcry after he delivered a condolence video almost entirely in English regarding a fatal plane crash that killed a French-speaking pilot.
Critics and politicians, including Quebec’s Premier, were outraged that Rousseau failed to fulfill a high-profile 2021 promise to learn French, viewing his English-only response to a tragedy as a sign of deep cultural disrespect.
Air Canada’s board has launched a global search for a successor and explicitly stated that flu