The US administration altered the rules on certain index funds to force them to buy SpaceX stock without the usual "cool off" period that would allow for an over-valued IPO to settle down to its market value first.

This means people's retirement savings portfolios were obligated to buy Space-X stock at a massively overvalued Initial Public Offering, which went directly to the coffers of the company & allowed private investors to sell their stocks, leaving the general public holding the bill as the stock corrects itself. It was basically an engineered crypto rug-pull / wealth transfer using the actual stock market.

But, yes, I guess the shitstain of a CEO now has slightly less than infinite leverage to take out loans against his share holdings. Yay.