The New York pension manager says SpaceX's contempt for minority shareholders is 'unprecedented'

▤ Summary

The article covers pushback from major investors over SpaceX’s unusually concentrated voting control for Elon Musk ahead of its IPO. New York’s pension comptroller says the arrangement goes beyond normal founder control and creates a precedent investors have not seen before. Several pension funds and institutional investors are weighing whether the governance structure makes the offering too risky, especially for ESG-focused portfolios. The story also notes that some investors may exclude SpaceX, while index providers are adjusting rules to include it more quickly.

▦ Linked Companies