A union-backed advocacy group with zero shares in SpaceX has launched a political campaign to torpedo Elon Musk’s upcoming IPO — because apparently building the most successful rocket company on the planet is fine, as long as you vote the right way.
You just can’t make this stuff up. The company that ferries NASA astronauts to the International Space Station is now Public Enemy Number One for a group that used to literally call itself CtW — “Change to Win.” Change what, exactly? The trajectory of American innovation? Mission accomplished, comrades.
The SOC Investment Group — formerly known as the CtW Investment Group — fired off a letter to the SEC demanding regulators scrutinize SpaceX’s financials ahead of what could be a multi-trillion-dollar IPO. According to ZeroHedge, the IPO is less than two months away and could make Musk the world’s first trillionaire. And that, apparently, is the real problem.
Here’s the kicker: SOC isn’t even a SpaceX shareholder. They don’t own a single share of the company they’re trying to kneecap. They’re just a politically connected outfit with deep ties to the Service Employees International Union — the SEIU — doing what lefty activist groups do best: weaponizing regulatory agencies against people they don’t like.
Their letter to the SEC is a masterpiece of concern-trolling. “We are specifically concerned that SpaceX’s IPO will expose numerous investors, many unwillingly, to a company whose value may decline once its financial disclosures can be independently assessed and verified,” SOC wrote. Translation: we can’t beat Musk in the market, so we’ll try to scare investors away before they even get a chance to buy in.
SOC demanded three things from regulators: a review of SpaceX’s financial accuracy and reliability, an examination of auditor independence, and a deep dive into accounting transactions between SpaceX, xAI, and Tesla. Three companies. Three investigations. All conveniently targeting one guy who showed up at a “No Kings” protest and told the left exactly where they could stick their crown.
The Capital Research Center’s InfluenceWatch database has the receipts on SOC’s political ties, and they read exactly like you’d expect. This isn’t a watchdog group. This is a political hit squad dressed up in financial analyst clothing.
Let’s be honest about what’s happening here. The left spent years trying to destroy Musk through boycotts, advertiser pressure, and endless media hit pieces. None of it worked. Tesla stock is fine. X is still standing. SpaceX is literally the only company America trusts to put humans in orbit. So now they’re going to the SEC with a letter that basically says “please find something wrong before this guy gets any richer.”
This is political warfare, plain and simple. A group that doesn’t own stock, doesn’t build rockets, and doesn’t send astronauts anywhere is trying to derail a multi-trillion-dollar American success story because Elon Musk refuses to play for their team.
Good luck with that. The man builds rockets that land themselves. Something tells me he can handle a sternly worded letter from a union front group.
