Effectively it is solely owned by Elon and other people have an equity stake. This is another huge risk. You have to trust Elon not to get distracted and decide to hard pivot to something else.

Look at Tesla and their hard pivot to humanoid robots. He is all in on robots which about a dozen other companies already make and are largely unprofitable in making. He is betting AI rapidly improves in a way that allows robots to become rapidly more useful and there is zero evidence that is feasible in the next 5 - 10 years.

> Is it really owned by them if Elon retains most of the voting rights anyway?

Owned by various folks. Controlled by Elon. Granted, I don't know how Texas law deals with minority rights.