6 ms·
They are already a public company.
by nemothekid 4mo ago
They are already a public company.
- Hamuko 4mo agoYou can take a public company private and then run it to the ground. See also: Twitter.
- lostlogin 4mo agoHow does that work now they are a subsidiary of SpaceX? Does that make the rotting corpse of Twitter public again?
- Hamuko 4mo agoYes. Although the amount of SpaceX stock that's available for public is fairly little.
- victorbjorklund 4mo agoAnd those classes available for the public has less voting rights than Elons stock so even worse.
- tertius 4mo agoSo man makes company, man shares profitability of company with world to invest in. World complains they can't outvote man.
- lostlogin 4mo agoSome of the details you are missing here matter quite a lot.
- victorbjorklund 4mo agoIm not an investor so I don’t care. But anyone buying into SpaceX should probably care that you are investing in a company you have zero influence in.
- oseityphelysiol 4mo ago93% owned by the founder.
- ksec 4mo agoI had to fact check this. Turns out it is true. I was not aware on US stock exchange you can have a public company with less than 10% public float. This also makes the founder net worth of around $33B.
- sandworm101 4mo agoIf you think that is bad, look into the spacex ipo. That tiny public offering is for stock that can barely vote and cannot bring shareholder actions, making them more NFTs than proper "shares" imho.
- tertius 4mo agoIt's not bad. Great returns, company is extremely well run.
- ksec 4mo agoI know about voting shares and shareholder actions in US stock because they are somewhat frequently sited in all press and media. I just didn't know about sub 10% float. I know there are plenty of ways to go around it via trust funds or other entities to hide it so the ownership could be extremely concenrtated. But having it actually allowed is something I didn't know.