Kevork Djansezian/Getty Images News SpaceX (SPACE) has adopted corporate governance policies that will give CEO Elon Musk sweeping authority and limit shareholder rights when it goes public, Reuters reported after reviewing excerpts of the company's IPO registration statement. The rocket maker is using supervoting shares, mandatory Newsletters for Every Investor How will SpaceX's IPO corporate governance affect investor rights? SpaceX's governance grants Musk and insiders sweeping control, limiting shareholder ability to challenge management, make proposals, sue in court, or remove Musk without his own consent. What are the risks regarding SpaceX's IPO financial disclosures? There are concerns that SpaceX's value could fall after independent verification of its financial disclosures, with questions about auditor independence and related-party transactions. How does SpaceX's use of supervoting shares impact board control? Supervoting Class B shares, available only to Musk and associates, enable him to retain over 50% voting power and make board removal nearly impossible without his agreement. Recommended For You