FYI:
If you issue less than 50% of your stock and keep the rest as closely held/restricted, it won't matter if one person owns all the rest, the person(s) holding the restricted stock have majority interest. At such time that you need to raise more money, you split existing shares but still maintain majority.
As well there are a whole bunch of methodologies/options with regards to voting and non-voting shares... but if no IPO, that's fine...I was just wondering.