There's a reason why he's trying to reserve 30% of the IPO for retail investors.
please elaborate
Bagholders
Doesn't seem right as plenty of institutionals get cooked.
He claims loyalty with long-term holders who trust him (read:less nagging and more license). I suspect it's also more convenient for his IR team to avoid worthless meetings with super shareholders.
There are ~7 born per minute. 95% of them are retail investors.
If you want actual reason, it's because he uses it as a money battery, i.e. funding xAI and SPACE DATA CENTERS.