Musk will have total control over SpaceX. Shareholders won’t have any voice whatsoever. Each share held by Musk will have 10 times the voting power of a share offered to the public.
SpaceX insiders will be able to sell their shares sooner than is usually the case with an IPO, because that’s the way the SpaceX IPO has been organized.
https://www.theguardian.com/commentisfree/2026/jun/12/spacex-ipo-elon-musk-trillionairehttps://themoneyprinter.substack.com/p/the-spacex-ipo-and-the-end-of-public?utm_source=post-email-title&publication_id=1634542&post_id=197025139&utm_campaign=email-post-title&isFreemail=false&r=1r6rpq&triedRedirect=true&utm_medium=email"A passive index fund does not ask, “Is this company worth the current price?”
Instead, it asks, “Is this company in the index?”"
Reports indicate the Nasdaq modified its fast-track inclusion rules to allow mega-cap IPOs into the Nasdaq-100 after 15 days rather than 3 months.
S&P has proposed removing its profitability requirement for large offerings.
After the IPO there will be a two-week period before SpaceX is fast-tracked into major index funds. At which point the demand will go into overdrive. Because these funds will have to buy SpaceX, no matter what the price is.
Where will funds get the money to make these purchases? They’ll have to “rebalance”—meaning that there will be a sell-off of other equities in order to finance the purchase of SpaceX. Some other index-included stocks will have to go down so that SpaceX can go up.
Markets have always depended on:Friction… skepticism… and consequences.
When markets don’t have these, What are they?
Americans were told that passive investing would remove emotion, speculation, and Wall Street games from the system, That it would democratize ownership and give ordinary people a fair chance at building wealth without being taken advantage of by those with better information and faster connections.
However system automated the games, speculation didn’t disappear. It moved into index construction, float engineering, governance design, and inclusion eligibility.
The ordinary people still provide the capital.
but they no longer have any way to influence how it gets allocated, who it benefits, or what happens when the structure breaks.
