SpaceX Financials Flagged as Concern to SEC by Advocacy Group

SOC Investment Group, an adviser to union-affiliated pension funds, is urging US regulators to probe SpaceX’s financials ahead of a Wall Street debut that could value the company at more than $2 trillion, citing concerns over its relationships with Elon Musk’s other ventures.

In a letter to the US Securities and Exchange Commission dated May 6, the Washington, D.C.-based group asked the agency to review SpaceX’s financial disclosures for accuracy and reliability, and make sure the rocket manufacturer’s auditor remains independent. SOC Investment Group also urged the SEC to scrutinize the accounting of SpaceX’s transactions with other Musk companies, including xAI and Tesla Inc.