Yeah that plus wrapping the xAI dogshit debt inside SpaceX is where it gets really scummy. At least the S&P500 didn't (yet) succumb and lower their requirements and that's where most of my investment money is parked.
I had completely forgotten they'd already wrapped xAI around Twitter. That's getting to turducken levels of nested bad companies.
There's also the Tesla (potential) self dealing where SpaceX bought a bunch of Cybertrucks and appears to be leasing them to employees for cheap as a perk.