<div id="readability-page-1">Governance called catastrophic: AkademikerPension says Musk's control of voting rights and multiple executive roles undermines oversight and accountability. Valuation concerns raised: The fund argues SpaceX's $1.8 trillion IPO target is hard to justify and offers investors too little compensation for risk. ESG-driven decision: The fund has previously exited Tesla and US Treasuries over governance and political concerns, reflecting its ESG-focused investment approach.</div>

SPCX

TSLA

<p>Danish pension fund AkademikerPension has blacklisted SpaceX, citing 'catastrophic' governance due to Elon Musk's control over voting rights and multiple executive roles, which undermines oversight. The fund also raised concerns about the company's $1.8 trillion IPO valuation, deeming it unjustified and offering insufficient risk compensation. This decision aligns with the fund's ESG-focused strategy, following previous exits from Tesla and US Treasuries based on similar governance and political concerns.</p>

- AkademikerPension criticized Musk's control over voting rights and executive roles, stating it undermines oversight and accountability.  
- The fund expressed concerns about SpaceX's $1.8 trillion IPO target, deeming it difficult to justify and offering inadequate compensation for risk.  
- Reflecting its ESG-focused approach, the fund has previously divested from Tesla and US Treasuries due to governance and political issues.

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Danish pension fund blacklists SpaceX over governance, valuation