Elon Musk holds 48.4% beneficial ownership of SpaceX (SPCX.US), with "super voting rights" securing absolute control.

Zhitong Finance APP has learned that, according to a 13G filing submitted on Thursday, Elon Musk disclosed his beneficial ownership of 48.4% of SpaceX (SPCX.US).

The filing shows that as of June 30, Musk reported beneficial ownership of 6.42 billion Class A common shares of SpaceX. His shareholding includes 849.5 million Class A and B shares held through a trust, 1.3 billion restricted Class B shares granted to him, and 350 million Class B shares obtainable through option exercises.

The document states that Musk holds sole voting and dispositive power over all 6.42 billion shares.

Through the dual-class share structure of AB shares (with Class B shares having perpetual super-voting rights of 10 votes per share), Musk controls more than 82% of the company's ultimate voting power, giving him absolute command over the company’s strategy, board of directors, and daily operations.

On this situation, JPMorgan explicitly pointed out in a research report the “key person dependency” risk—the extraordinary influence of Musk is the core driving force of the company’s culture, vision, and operating strategy, but such a high degree of concentration also brings governance risks and succession challenges. Optimists see this as a guarantee of execution efficiency; pessimists, however, are wary of a “single point of founder failure.”