Top Pension officials from New York and California have written to SpaceX CEO Elon Musk, expressing concern over the “extreme” governance structure of the commercial space flight company ahead of its public listing.

Comptrollers Express Concern

New York State Comptroller Thomas DiNapoli, as well as New York City Comptroller Mark Levine and California Public Employees’ Retirement System (CalPERS) CEO Marcie Frost, wrote a letter to Musk, accessed by Reuters on Wednesday. Notably, CalPERS had also expressed opposition to Musk’s $1 trillion Tesla Inc. (NASDAQ:TSLA) pay package last year.

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