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Aidan Donnelly

👤 Speaker
475 total appearances

Appearances Over Time

Podcast Appearances

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

Exactly.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

That's exactly the point.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

So if you look at it, so it's 1.7 trillion.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

Now, they're not raising 1.7 trillion, right?

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

So they're only raising 75 billion in new proceeds coming through.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

So that's the first thing.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

So that's what people will be able to get access to.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

So it means that, you know, when you look at it, what's called the free flow.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

So much of the shares will actually be able to trade on a day-to-day basis.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

So there is going to be very little of it.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

It's very, very small.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

And this is the key, right?

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

He controls the voting rights under a different structure.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

He controls the voting rights because he has what are called Class B shares.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

Right.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

So they have all the voting rights.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

So basically, and again, it comes down to this issue of governance.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

You know, another hat I have to wear in my job is looking at the governance of a business.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

Right.

Inside Business with Ciaran Hancock
‘No profit and crap governance’ – is Elon Musk’s SpaceX actually worth $1.75 trillion?

So if you look at it under this current structure, right.