SpaceX's IPO is a disaster waiting to happen for your pension fund

4 hours ago

SpaceX, set to become the world's most valuable listed company with a valuation of $1.75-$2 trillion, is going public with the overarching goal of colonizing Mars.
The company's core is the profitable Starlink satellite internet business, while SpaceX rockets and unprofitable AI ventures round out its structure.
Elon Musk will control 85% of voting power through super-voting shares, leaving shareholders with no say and limited legal recourse.
Passive investment strategies by pension funds will force them to buy SpaceX shares, meaning many individuals will indirectly invest in the company, potentially 0.04%-0.15% of their pension.
The IPO is criticized as a one-sided racket, allowing insiders to cash out while retail investors and pension funds bear the risk of an unprofitable, debt-laden company with megalomaniacal ambitions.

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