Who Controls SpaceX
Buying SPCX buys Class A stock, which carries one vote per share. The people who control the company hold Class B, which carries ten. That gap is the single most important thing to understand about this share register.
Voting power, by class
| Class | Shares | Votes/share | Total votes | Share of votes |
|---|---|---|---|---|
| Class A (public, SPCX) | 7.70B | 1 | 7.70B | 12.3% |
| Class B (insider-held) | 5.49B | 10 | 54.85B | 87.7% |
Class B is roughly 41.6% of the shares outstanding and roughly 87.7% of the votes. Class A gives you real economic ownership, a claim on the value of the business and on any dividend the board ever declares. It gives you very little say in how the business is run.
The classes are not permanently separate. Each Class B share converts one-for-one into Class A at the holder's option, and converts automatically when it is sold or transferred outside a permitted transfer. Insider selling therefore shrinks the supervoting bloc as it happens, rather than handing voting power to a buyer.
A third class, authorised but unissued
SpaceX's charter also authorises 10.00B Class C shares, which carry no votes at all except where the law requires them. None were outstanding at the last reporting date, so Class C appears in no share count and in no aggregator's figures. It is worth knowing it exists: an authorised non-voting class is a standing option to raise equity without diluting anybody's control.
No dividend has ever been declared on SpaceX common stock, from the company's inception through its most recent quarter. Anyone buying SPCX is buying it for capital appreciation alone.
Filed beneficial owners
Holders of more than 5% of a registered class must report their position. Four filed for SpaceX Class A common stock in August 2026, reporting positions as of June 30, 2026.
| Holder | Held through | Shares | % of Class A |
|---|---|---|---|
| Elon R. Musk | Trusts, restricted Class B stock and exercisable options | 6.42B | 48.4% |
| Alphabet Inc. | Held directly by Google LLC, through XXVI Holdings Inc. | 551.19M | 7.2% |
| Antonio J. Gracias | Valor Equity Partners funds and related entities | 503.41M | 6.5% |
| Peter Thiel | Founders Fund funds and related entities | 427.31M | 5.5% |
These percentages do not sum to 100 and should not be added together. Each filer calculates its own figure against the Class A shares outstanding plus, for that filer alone, any Class B it could convert. Musk's is an as-converted number and the others are not.
How Musk's stake is put together
Elon Musk reports beneficial ownership of 6.42B shares, or 48.4% of Class A on an as-converted basis. Almost none of it is ordinary Class A stock bought on the market. His filing breaks it into four pieces:
- Class A held by trusts 849.49M
- Class B held by trusts 3.92B
- Restricted Class B 1.30B
- Class B issuable on options 350.00M
Most of that is Class B, which is what turns a minority economic stake into working control. The restricted portion is subject to performance and other vesting conditions, and the option portion is exercisable within sixty days of the reporting date, both of which are reasons the filed number is larger than the stock he holds outright today.
The outside holders
Alphabet holds its position directly through Google LLC, under XXVI Holdings. It is a legacy of Google's 2015 investment in SpaceX rather than a recent purchase, and it is Class A rather than Class B, so it carries no special voting weight.
Antonio Gracias files for Valor Equity Partners, whose position is spread across roughly thirty funds and holding vehicles. Gracias also sits on SpaceX's board, and Valor's relationship with the company runs beyond equity: the quarterly report discloses AI infrastructure equipment lease agreements with Valor that put more than $13 billion of debt on SpaceX's balance sheet.
Peter Thiel files for the Founders Fund vehicles, an aggregate spread across five fund generations plus growth and side vehicles. Founders Fund was an early SpaceX backer, and no single one of its entities holds enough to cross the 5% threshold on its own.
A caveat on the share count
Every share count on this site is the one SpaceX last filed, as of July 28, 2026. On August 14, 2026 the company issued a further 389.29M Class A shares as consideration for the Cursor merger, which is after that date and therefore not in the figures above. The true current Class A count is higher than the filed one by roughly that amount. We publish the filed number rather than a computed one, and say so here, because the next 10-Q will confirm the real total and an estimate in the meantime would be ours rather than the company's.
Founder and chief executive
Elon Musk founded SpaceX in March 2002 and is still its chief executive. He is also, per the segment note in its own filings, the chief operating decision maker: the person who sets how the company is organised into segments and how capital is allocated between them. In a company where one person holds most of the supervoting stock and runs the operating structure, those two roles reinforce each other.
What this page does not cover
Two things are missing and both have the same reason. There is no full beneficial-ownership table for officers and directors below the 5% threshold, and no lock-up expiry date for pre-IPO holders. Both would come from a proxy statement on Form DEF 14A, which SpaceX has not yet had to file as a newly listed company, or from the underwriting agreement summarised in the prospectus. When the first proxy lands, this page gets the fuller picture.