The greatest heist in American history
Index funds are about to be forced to buy roughly 19% of SpaceX shares within 6 months if it gets fast-tracked into the S&P 500. Add in Russell 1000 and Nasdaq 100 buys, plus active funds benchmarked to those indices, and passive investors end up controlling HALF of SpaceX.
Musk doesn't need to do anything. The system itself gets weaponized to hand him an unprecedented wealth transfer. It's legal because nobody's stopping it.
Passive S&P 500 funds could have to buy roughly 19% of public SpaceX shares within 6mo under fast-tracking framework (it would enter the index at the est 6th spot), Russell 1000 and Nasdaq 100 may buy another 5.5% within weeks of the IPO. Thrown in active MFs benchmarked to those indices and you get to HALF of SpaceX shares. Nice study from my colleague @rduboff
Source
x.com