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Akademikerpension Excludes SpaceX Citing High Valuation

Akademikerpension excluded SpaceX from its portfolio ahead of an IPO. The fund cited Elon Musk's control and a valuation it considers difficult to justify.

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Denmark pension fund Akademikerpension excluded SpaceX from its portfolio ahead of an IPO, citing a valuation exceeding $1.8 trillion. The fund's exclusion reflects a broader debate among institutional investors over whether private aerospace companies merit the premium multiples demanded in recent funding rounds. Minority shareholders face governance risks given Elon Musk's dominant voting control and executive concentration.

Governance and Power Concentration
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