This episode of UNFTR is an exclusive deep dive into the SpaceX IPO prospectus. It reveals what might be the biggest fraud and money grab in the public markets ever. The baseless $1.77 trillion dollar valuation at a list price of $135 at auction stands to add hundreds of billions of dollars to Elon Musk’s net worth, and that’s not the most outrageous part about this. The company currently loses billions of dollars every year, admits freely that most of the anticipated revenue streams are either currently illegal, highly unethical or perhaps non-existent. But hey, it’s Elon. What’s the worst that can happen? Believe it or not, there’s a lot more at risk here than just one company tanking after an outrageously overhyped IPO. And the average American investor with a 401(k) or IRA is very much an unwitting participant in the scam.

Resources

Bloomberg: SpaceX IPO Is Well Oversubscribed With Orders Closing Wednesday

New York Times: How Banks Are Using SpaceX to Woo the Superrich

SEC: SpaceX Form S-1

CNBC: SpaceX’s market-moving potential: Here’s what to know

More Perfect Union: We Uncovered a Hidden Wealth Transfer in the SpaceX IPO. You’re Holding the Bag.

UNFTR Resources

Video: SpaceX IPO: What They're Not Telling Retail Investors

Essay: The SpaceX IPO Fraud.

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