S&P Blocks SpaceX S&P 500 Entry After $4.94 Billion Loss
Updated
Updated · Reuters · Jun 4
S&P Blocks SpaceX S&P 500 Entry After $4.94 Billion Loss
3 articles · Updated · Reuters · Jun 4
Summary
S&P Global kept its major-index entry rules unchanged, shutting off any quick path for newly public SpaceX to join the S&P 500 despite its planned $1.75 trillion valuation.
The decision leaves in place profitability, seasoning and investable-float requirements, and S&P said exceptions would not be granted solely because a company is exceptionally large.
SpaceX fails the profit test after posting a $4.94 billion net loss in 2025, even as revenue climbed 33% to $18.67 billion.
S&P did open a narrower route by easing entry to its broader Total Market indexes, while Nasdaq and FTSE Russell have already adopted faster-entry rules that could bring forced buying from their index funds.
The ruling preserves the S&P 500's rules-based approach even as exchanges and index providers compete to attract blockbuster tech IPOs amid a shrinking pool of U.S.-listed companies.