No it doesn’t there are rules and requirements beyond those of a privately owned company, which is for instance why he can’t just call a vote tomorrow nullifying every share except for his own without seeing it blow up in his face. It’s not his company, it’s a public company in which he has controlling shares. He can’t do whatever he likes without consequence, but he can definitely retain control even in the face of rising criticism.

Sure, he can't violate the law. But (within the confines of the law) it is effectively his, and only his, company.