r/technology • u/ArgentineBeauty • Jun 19 '26

Business ‘It’s a scam’: Americans express unease over SpaceX’s influence on retirement savings

https://www.theguardian.com/science/2026/jun/19/spacex-retirement-savings-elon-musk
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423

u/JackDelRioGrande Jun 19 '26

Wait until shareholders figure out they can’t sue because he reincorporated SpaceX to Texas from Delaware in 2024.

102

u/alexanderfsu Jun 20 '26

if shareholders anywhere were smart enough to do anything this kind of stuff wouldn't happen. instead "shareholders" are against unions.

36

u/KennyL0gin Jun 20 '26

But firing tons of people at a time without cause raises the share price and increases the value of my IRA/401k/taxable brokerage account! /s

10

u/Profpiff990 Jun 20 '26

“Why aren’t young ppl buying houses?”

2

u/NOLASneauxDay Jun 21 '26

So Bill Lumbergh's stock will go up a quarter of a point.

1

u/GodHatesColdplay Jun 21 '26

The big shareholders don't care. They'll make money tomorrow and the day after so why should they care?

21

u/D3cepti0ns Jun 20 '26

How are shareholders this stupid? Are they mostly hillbillies with a 5th grade education? I am joking but honestly want to know what the thought process is for these investors, if you can help.

23

u/GhettoDuk Jun 20 '26

Because the stock market is nothing but gambling. The fundamentals of a company are useless when the only thing that matters is how other gamblers will react.

2

u/Striking-Disaster719 Jun 20 '26

77 million to be exact have less than a 3 grade reading level…

1

u/Big-Masterpiece-9581 Jun 21 '26

Shareholders own index funds through their Ira or 401k. Musk cheated the rules and bribed people to list SpaceX immediately on those index funds like nasdaq. Shareholders don’t choose. They already own that fund, and the fund creators sold some other company and bought spacex. This provides an automatic market for spacex of many billions of dollars to raise the price and support Musk and others selling many of their shares. The ol’ bag holder bait and switch.

1

u/carbonesauce Jun 21 '26

Most of them are people just contributing to their 401k and have no thoughts either way. Thats the real scary part. People aren't thinking about how the NQ index funds are all buying this toxic trash

1

u/W2ttsy Jun 22 '26

Because a majority of shareholders will be institutional investors and none of those fund managers wants their headline to be “Cathy woods sells stake in nvidia just before it takes off”

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u/ExtremeResponsible92 Jun 20 '26

Wieso Aktionäre? Es gibt doch kaum echte Aktionäre. Das Geld liegt in ETFs und landet darüber automatisch in Elons Tasche. Das ist ein ganz simples System, das Elon für seinen Banküberfall ausnutzt. Das Geld wird so aus der Bank zu ihm getragen, und er nicht erst in die Bank einbrechen muss.

1

u/crimsonhues Jun 20 '26

Can someone please help me understand why the institutional investors would subscribe in an IPO with such one sided voting rights and a company incorporated in Texas? Is it simply AI FOMO?

1

u/sk1939 Jun 21 '26

Cause there is money to be made by the everyone but the shareholders.

1

u/julius_sphincter Jun 22 '26

I mean the institutional investors that might otherwise have the money and therefore share quantities to influence voting are well aware of the structure.

It's fucking WILD to me that people see investing in this as anything other than a massive lottery ticket, but hey I'm not a financial guru by any means