> Why should SpaceX get exemptions from entry requirements to the S&P when every other company before it didn't?

The rules have never been set in stone and changed a number of times since the S&P 500 was created. The current set of rules are based around the old way of companies IPOing and growing into something that could be included. Now, companies are staying private longer and IPOing with huge valuations.

Take AI/Elon emotion out of it for a second, and there is a rational debate to be had if multiple 1T+ market cap companies should be accommodated for in an index that's supposed to represent the 500 largest/most influential US companies. If these companies are still in the 1T+ ranges a year from now, I suspect the S&P may change some rules to get them in with the idea that the market has spoken.