Activists Escalate Pressure on SpaceX IPO Ahead of Record Valuation

SpaceX's anticipated record IPO faces coordinated pressure from activist groups and unions representing 1.8 million teachers and government workers, who argue that pension funds will be locked into a company lacking adequate disclosure and oversight. This organizing effort parallels previous activist campaigns that erased $600 billion from Tesla's market cap, signaling that investor activism targeting Musk's businesses is becoming institutionalized. The pushback raises critical questions about whether the SEC adequately scrutinizes mega-cap offerings where founder control outweighs investor protections.