AceShowbiz - Jimmy Kimmel has voiced strong concerns about Elon Musk’s upcoming SpaceX initial public offering, TheWrap reports, cautioning that the historic IPO could jeopardize Americans’ 401(k) retirement accounts while pushing Musk’s net worth beyond the unprecedented one trillion dollar mark.

TheWrap details that SpaceX is poised to conduct the largest IPO in history, a move that would make Musk the first person to reach trillionaire status. Rolling Stone adds that many 401(k) plans are expected to automatically invest in SpaceX shares through index funds despite the company’s unusual financial situation, including a $5 billion loss last year and a current lack of profitability. Imdb further highlights Kimmel’s warning that this scenario may enrich Musk substantially, while ordinary workers saving for retirement might face risks, especially given Musk’s controversial statements about robots replacing the need for personal savings.

Jimmy Kimmel, known as a comedian and host with credits including Jimmy Kimmel Live! and voice roles in Road Trip and Garfield, has a history of blending entertainment with pointed social commentary. His show airs weeknights on ABC, where he recently criticized Musk’s immigration enforcement support despite Musk himself being an immigrant, and questioned Tesla’s minimal federal income tax payments over recent years.

This development is significant as it raises questions about the impact of major corporate IPOs on everyday investors and retirement security. The potential automatic inclusion of SpaceX stock in 401(k)s could expose millions to financial risk, while simultaneously enabling Musk to amass unparalleled wealth. Kimmel’s critique underscores broader concerns about wealth inequality and corporate influence in the U.S. economy amid high-profile tech ventures going public.

This article is based on reporting originally published by TheWrap.