SpaceX IPO: How It Could Hit Your Pension

SpaceX's May 2026 S-1 filing reveals the company lost $4.9 billion last year on $18.7 billion of revenue, with losses widening to $4.3 billion in Q1 2026 alone.

The IPO is structured as a low-float listing at a $1.5 trillion or higher valuation, with Nasdaq and S&P rewriting their index inclusion rules to fast-track entry.

Musk controls 85% of voting power through 10:1 supervoting Class B shares; the public buys Class A only, with no governance influence.

Index funds (Nasdaq 100, S&P 500, MSCI World) will be forced to buy SpaceX shares at whatever price this engineered scarcity produces.

Musk's own pay package vests on a $7.5 trillion market cap target and a "permanent human colony on Mars" - concrete evidence of how high the playbook needs the index pump to go.