SHAREHOLDER RIGHTS COALITION SLAMS SPACEX’S FAST TRACK INTO NASDAQ 100: “MILLIONS NOW EXPOSED TO RISKS THEY NEVER AGREED TO”

WASHINGTON, DC – JULY 7, 2026 – The Alliance to Protect Shareholder Value released the following statement condemning SpaceX’s inclusion in the NASDAQ 100 index through a recently-adopted rule allowing large, newly-public companies to be fast-tracked.

Ever since news broke of SpaceX’s IPO, controversy has swirled around its unprecedented and extreme governance structure that grants Elon Musk near-total control and strips shareholders of their right to hold the company accountable if the company or any of its officers, directors, or controlling managers breaks the law or commits fraud.

The Alliance to Protect Shareholder Value issued the following statement:

The SpaceX IPO has been granted unprecedented favors by federal regulators, and today NASDAQ has followed suit. Including SpaceX in the NASDAQ 100 — after NASDAQ changed its rules expressly to benefit Elon Musk and get ahead of competitors — will expose millions of retail investors to a company whose corporate governance rules have all but eliminated accountability to its shareholders.

SpaceX is the first public company to subject its shareholders to binding arbitration and draconian restrictions on shareholder proposals, while shielding its own management from litigation for malfeasance like insider trading. Through his overwhelming ownership of common and preferred stock, Musk has near totalitarian control over decisions typically subject to shareholder oversight.

Millions of retirement savers that have followed prudent and time-tested advice to invest in low-cost index funds are now exposed to risks they never agreed to. Fast-tracking greatly increases the likelihood of enriching early investors while leaving ordinary Americans holding the bag — plan managers and investors should carefully review their holdings and adjust them to reflect index providers who refused to bend their rules to Musk’s influence.

The Alliance, which is led by Americans for Financial Reform (AFR), the Consumer Federation of America (CFA), the Healthy Markets Association, and the American Association for Justice (AAJ), also launched a tool for retirement savers and investors to contact major financial institutions to voice their concerns. Over 2000 emails have been sent since the tool was launched last month.