Michael Hytha

Michael Hytha is a Bloomberg News deals editor and reporter based in the San Francisco Bay Area, covering IPOs, M&A and corporate transactions, including AI-sector fundraising and public-market activity such as OpenAI’s IPO plans.

SpaceX’s $75 Billion IPO Would Leave Musk With 84% Voting Control

Bloomberg’s Michael Hytha says SpaceX’s planned $75bn IPO would be unprecedented in size and unusual in structure, with Elon Musk seeking to sell a fixed number of shares at a fixed price rather than follow a standard Wall Street bookbuilding process. Hytha argues the filing makes the investor bargain explicit: public buyers would help fund SpaceX’s AI and launch ambitions while accepting a dual-class structure that leaves Musk with 84.4 per cent of the voting power after the listing.

Bloomberg TechnologyJun 4, 20264 min read