Danish Pension Fund AkademikerPension Blacklists SpaceX Over Governance Concerns

AkademikerPension, a $25 billion Danish pension fund, has ruled out investing in SpaceX ahead of its planned IPO. CIO Anders Schelde called the company’s governance structure ‘catastrophic’ and said its target valuation of at least $1.8 trillion is grossly inflated.

The move continues a pattern of politically-charged divestment decisions by the fund, which earlier this year drew attention for dumping US Treasuries amid Trump’s threats to seize Greenland. The blacklisting signals growing institutional investor skepticism toward Elon Musk-led companies, where concentrated control and limited shareholder oversight remain persistent concerns.