Demand a full investigation into Elon Musk's financial dealings and push back hard on the index fund rules that are forcing ordinary Americans into what looks like a self-dealing scheme. The Nasdaq 100 and FTSE Russell both changed their rules almost immediately after SpaceX's IPO to admit the stock, bypassing the standard one-year waiting period. Because over 50% of American households hold mutual funds and 52% of mutual fund assets are in index-based funds, millions of people are now involuntarily buying into a company valued at $1.77 trillion on revenues of just $18.7 billion — a company that is losing money.
This isn't just bad investing. Musk's $13 billion Twitter acquisition was called "the worst buyout for banks since the Financial Crisis" by the Wall Street Journal. His xAI model, Grok, is widely considered inferior and unsafe, and at one point generated racist and antisemitic content. Now he's rolling xAI into SpaceX to prop up weaker assets using Starlink's legitimate revenues as cover. That's financial engineering, not innovation. Musk's role in the 2024 election and his position running DOGE while holding these financial interests demands serious scrutiny for conflicts of interest and potential election interference. Americans didn't sign up to bankroll this.
First sent on June 13 by States ask for townhalls
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