That was a short-term loan when I ran out of money in 2008. He did not receive any equity for it.
Antonio’s ownership stems from absolute support, even when it looked like SpaceX would fail, and many investments over 2 decades.
One could not ask for a better friend. He is a great man.
Wow, the S&P Dow Jones Indices has just officially announced that they will NOT be changing their inclusion rules to make it easier for “MegaCap” companies (such as @SpaceX) to be fast-tracked into the S&P 500.
Their reasoning:
"S&P DJI determined that exceptions to the financial viability, seasoning, and IWF requirements should not be granted solely based on market capitalization. The decision not to adopt the proposed exceptions preserves core index principles by maintaining consistent application of these key requirements. Although there may be trade-offs between strict adherence to these eligibility requirements and broad representativeness, the current methodology provides substantial market coverage and sector balance. As a result, the indices can continue to meet their stated objectives while preserving their role as representative and investable benchmarks for the U.S. equity market.
No changes will be made to the eligibility criteria including financial viability screens, seasoning period, or minimum IWF, for the S&P 500, S&P MidCap 400, or S&P SmallCap 600 as a result of the S&P Dow Jones Indices consultation on the treatment of MegaCap companies. Accordingly, there will be no changes to existing methodology for this index family."
This means that the earliest @SpaceX could be eligible to be added to the S&P 500 would now be June 2027.
The requirements that will now remain in place are:
• No changes to S&P 500 eligibility rules for mega-cap companies.
• Mega-cap companies will still need to wait 12 months after their IPO before being considered for S&P 500 inclusion.
• S&P will not waive profitability requirements for mega-cap companies. The company must have positive GAAP net income in the most recent quarter, and the sum of the most recent four consecutive quarters.
• S&P will not waive minimum public float requirements for mega-cap companies. At least 10% of a company's shares must be publicly tradable ("free float").
The S&P rejected proposals that would have:
• Reduced the IPO seasoning period from 12 months to 6 months
• Waived profitability requirements
• Waived minimum public float requirements
Good news for long-term $TSLA investors who want @SpaceX IPO shares: E*TRADE says it has established a supplemental IPO share allocation process for Tesla shareholders who have held $TSLA shares in their account for at least 10 years and elect to participate in the IPO.
E*Trade: "Clients who meet this profile and are otherwise eligible to participate in the IPO in accordance with Firm and regulatory requirements and submit a COB will be eligible to receive allocations through this process, in addition to any allocations they may receive as part of the general allocation process based on overall demand and the number of shares available to the Firm.
If you elect to participate, please submit a COB through the usual process.
Please note that submitting a COB does not guarantee an allocation, and any allocation may be less than the amount requested or may not be received. This is not a solicitation or recommendation to participate in the IPO or otherwise."
E*Trade is emailing this message directly to long-term $TSLA shareholders right now.
Running high grade + heavy load feels effortless in the Tesla Semi. Enough power to maintain speed when climbing, and regenerative braking making descents save and controllable. All while in silence.