Musk engineered the ultimate market scam
SpaceX IPO at $1.75 trillion gets forced into index funds holding millions of Americans' retirement savings. Retail investors eat the losses. Insiders and Musk cash out at peak valuation.
This isn't a business story. It's regulatory capture dressed up as a market event. He literally changed the rules so pension funds would be obligated to buy his shares. That's not innovation, that's looting with a white collar.
NEW: Elon Musk wants a SpaceX IPO valuing the company at upwards of $1.75 trillion. To get there he got the rules changed so that index funds, with millions of Americans' retirement savings, are forced to buy in. Retirees could take huge losses, while insiders cash out.
Source
x.com