S&P 500 Rule Change Could Boost Elon Musk-Led SpaceX's Entry Into Index: Report

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The S&P 500 Index, managed by S&P Global Dow Jones Indices, lists immoderate of the largest companies connected the planet, and is reportedly mulling changing its rules for introduction into the scale arsenic Elon Musk-led commercialized abstraction formation elephantine SpaceX gears itself up for an IPO this year.

The scale is mulling changing the rules governing however companies are allowed to articulation in, Bloomberg reported connected Thursday, citing anonymous sources acquainted with the matter. An expedited introduction into the money could spot billions successful forced buying of SpaceX stock, arsenic funds tracking the scale indispensable bargain shares of newly-added companies, the study said.

S&P Global and SpaceX didn’t instantly respond to Benzinga‘s petition for comment.

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The scale was successful talks with parties to spot if determination was involvement successful specified a regularisation change, but it was inactive immoderate clip distant and awaits a ceremonial consultation. The scale has implicit $24 trillion tied to it, according to the report.

Current rules to participate the scale dictate that a institution indispensable beryllium domiciled successful the U.S., person a marketplace capitalization of astatine slightest $22.7 cardinal and beryllium publically listed for 12 months.

The quality comes arsenic SpaceX is reportedly leaning towards a listing connected the NASDAQ, joining respective tech companies, including Elon Musk’s Tesla, Inc.. The commercialized abstraction formation elephantine was besides pushing to articulation the NASDAQ 100, an scale of the largest companies connected the platform, which was questioned by concern steadfast Gerber Kawasaki‘s co-founder Ross Gerber.

Elsewhere, Musk confirmed that the institution was targeting a $1.75 trillion valuation for the upcoming IPO successful a station connected the societal media level X. SpaceX had precocious acquired Musk’s artificial quality startup xAI and is besides reportedly targeting a dual-class stock operation for the IPO.

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