Did Elon Musk Just Turn SpaceX's IPO Into a Power Grab?

One of the largest IPOs in history is also a testament of Elon Musk’s desire to retain control

For decades, the IPO game has been rigged against anyone who isn’t already rich.

When a company goes public, the “allocation” process determines who gets shares and at what price. The answer, almost every time: hedge funds, mutual funds, and ultra-high-net-worth individuals get first access. Regular investors get what’s left — if anything — and often at worse prices than the institut...