It's inexcusable, and it's remarkable there's not more pushback. Y'know what ETFs like SPY & VOO do when they add a stock? They rebalance by selling all the other stocks in proportion. They are literally changing the rules to take value from shareholders of every S&P 500 company to give it to Musk.
Max Kennerly
the framing about 401ks is a little weird but the actual story is more interesting:
Musk is somehow getting the not-yet IPO’ed SpaceX stock forced into the indexes so that if you hold an index fund, you hold SpaceX, which would be fine if SpaceX was qualified for inclusion, but it does not.
Joshua Erlich
Financial experts were alarmed over what some have described as a financial “coup” being carried out by Elon Musk, one that could see tens of millions of Americans unknowingly prop up his unprofitable company SpaceX through their retirement accounts.
Financial experts sounded the alarm Monday over what some have described as a financial “coup” being carried out by Elon Musk, Tesla’s CEO and fierce ally to President Donald Trump, one that could see tens of millions of Americans unknowingly prop up his unprofitable company SpaceX through their ret...
