Featured Image Credit: Benjamin Fanjoy / Stringer / Getty
With a net worth the size of Elon Musk you wouldn't need to work a day for the rest of your life, yet he could find himself tied down to his role as head of SpaceX as a new post reveals why the company could make it 'impossible' to fire him.
SpaceX is on the verge of a historic initial public offering having already become the world's most valuable private company a number of years ago, yet that hotly anticipated move for the space agency does appear to come with an unexpected and aggressive condition.
As reported by the Financial Times, SpaceX's proposed corporate governance regime would effectively guarantee that Elon Musk cannot be fired from his role at the top of the company, whilst simultaneously offering him a conditional trillion-dollar pay package if a colony is successfully built on Mars under his leadership.
This would be an unprecedented move that wouldn't just provide Musk with unfathomable wealth on top of his already record-breaking net worth – alongside the other trillion-dollar pay package proposed by Tesla – but it would also give him unparalleled job security in a role that often finds itself under heavy scrutiny.
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Explaining the reasoning behind the decision, Musk himself has taken to X to reveal all:
"Yes, I need to make sure SpaceX stays focused on making life multiplanetary and extending consciousness to the stars, not pandering to someone's bulls*** quarterly earnings bonus," the tech mogul proclaimed.
"Obviously, IF SpaceX succeeds in this absurdly difficult goal, it will be worth many orders of magnitude more than the economy of Earth, but don't expect entirely smooth sailing along the way."
Effectively, Musk is outlining the realistic and challenging process required to achieve SpaceX (and by extension, his own) lofty goals, noting that despite the company's public status would likely not be deemed the most economic or profitable process.
At other public companies this would likely cause the director to face scrutiny from investors looking to see growth from their stakes, yet Musk believes that catering primarily to these individuals would get in the way of vital progress and SpaceX's core mission.
While no exact date has been set in stone, reports indicate that next month will be the fated day when SpaceX achieves what's likely the largest ever IPO, with an expected valuation of around $1.75 trillion.
This would make it immediately the world's ninth most valuable company – displacing Tesla in a fitting coincidence – although Musk's words might not exactly inspire investor confidence despite the prospect of immense growth far into the future.
