SpaceX Filing Reveals $4.28 Billion Loss, Musk’s Tight Grip (3)

SpaceX filed publicly for what stands to be the largest-ever initial public offering, revealing billions in losses and the super-voting share plan allowing Elon Musk to keep the company under his control.

The rocket, satellite and artificial intelligence giant is giving the billionaire the power to outvote anyone else, and promising him outsize rewards, including as many as 1 billion shares, if he can pull it off, according to a filing Wednesday with the US Securities and Exchange Commission.

The goals Musk, 54, would need to hit include a human settlement on Mars with at least 1 million inhabitants, the ...