# Lucian Bebchuk

**Role:** Professor, Harvard Law School; Corporate Governance Scholar

**Relevance:** Provided expert assessment of SpaceX's IPO governance structure

## Timeline

- **2026-05-03** — Assessed SpaceX's irremovability clause as 'not common' in dual-class IPO structures, noting that normally CEO removal is 'a decision left to the board, and controllers rely on their power to replace the board' rather than vesting removal authority directly in controlled shares

## Context

Bebchuk is a prominent corporate governance scholar whose assessment carries weight in evaluating whether SpaceX's governance structure represents a novel departure from standard dual-class practices. His characterization of the provision as 'not common' provides expert validation that the structure goes beyond typical founder-control mechanisms seen in Meta, Google, and Snap IPOs.

## Sources

- TheNextWeb coverage of SpaceX S-1 filing (May 3, 2026)