5 Houston suburbs among top places to retire and more innovation news

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Here's the top innovation news to know right now. Photo via Getty Images

Editor's note: It's time to look back on the top Houston innovation news in recent weeks. From Houston's most valuable startups right now to the top places to retire in 2026, here are the most-read InnovationMap stories from November 16-30:

1. U.S. News names 5 Houston suburbs as the best places to retire in 2026

The Woodlands is the No. 4 best place to retire. Photo courtesy of Visit The Woodlands

Houston-area suburbs should be on the lookout for an influx of retirees in 2026. A new study by U.S. News and World Report has declared The Woodlands and Spring as the fourth and fifth best cities to retire in America, with three other local cities making the top 25. Continue reading.

2. 3 Houston companies land on Deloitte’s Technology Fast 500 list

Three Houston companies ranked on Deloitte's annual list, with two cracking the top 100. Photo via Getty Images

Three Houston companies have made this year’s Deloitte North America Technology Fast 500 list. The report ranks the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. The top Houston company to make the list is Action1 Corp., No. 16, a provider of cybersecurity software. Continue reading.

3. Houston’s 10 most valuable startups revealed in new report

Houston's top startups by valuation range from e-commerce startups to a geothermal pioneer. Photo via Getty Images

The Greater Houston Partnership has released its list of the 10 most valuable startups that are fueling the city’s growth and entrepreneurial energy, including industry giants like Axiom Space and Fervo Energy. The list ranks its top 10 startups by valuation based on the company’s last private funding round, reflected in Pitchbook data, as of October 20 of this year. Continue reading.

4. Houston scores $120M in new cancer research and prevention grants

The Cancer Prevention and Research Institute of Texas has doled out 73 more grants to health care systems and companies in the state. Carter Smith/Courtesy of MD Anderson

The Cancer Prevention and Research Institute of Texas has granted more than $120 million to Houston organizations and companies as part of 73 new awards issued statewide. The funds are part of nearly $154 million approved by the CPRIT's governing board earlier this month, bringing the organization's total investment in cancer prevention and research to more than $4 billion since its inception. Continue reading.

5. Photos: Highlights from the 2025 Houston Innovation Awards

Congratulations to the 2025 Houston Innovation Awards winners! Photo by Emily Jaschke

The 2025 Houston Innovation Awards season came to a close on November 13 at InnovationMap's annual awards program and networking event. A full house of attendees gathered to celebrate the best and brightest in Houston innovation right now. Continue reading.

Three Houston companies ranked on Deloitte's annual list, with two cracking the top 100. Photo via Getty Images

3 Houston companies land on Deloitte’s Technology Fast 500 list

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Three Houston companies have made this year’s Deloitte North America Technology Fast 500 list.

The report ranks the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. The Houston companies to make the list, along with their revenue growth rates from 2021-2024, include:

  • No. 16 Action1 Corp., a provider of cybersecurity software. Growth rate: 7,265 percent
  • No. 92 Cart.com, a commerce and logistics platform. Growth rate: 1,053 percent
  • No. 312 Tellihealth, a remote health care platform. Growth rate: 244 percent

“Houston’s unique blend of entrepreneurial energy and innovation continues to strengthen the local business community, and I’m thrilled to see Houston companies honored on the 2025 Deloitte Technology Fast 500 list. Congratulations to all the winners,” said Melinda Yee, managing partner in Deloitte’s Houston office.

Action1 is no stranger to lists like the Deloitte Technology Fast 500. For instance, the company ranked first among software companies and 29th overall on this year’s Inc. 5000, a list of the country’s fastest-growing private companies. Its growth rate from 2021 to 2024 reached 7,188 percent.

Mike Walters, president and co-founder of Action1, said in August that the Inc. 5000 achievement “reflects the dedication of Action1’s global team, who continue to execute against an ambitious vision: a world where cyberattacks exploiting vulnerabilities are entirely prevented across all types of devices, operating systems, and applications.”

Atlanta-based Impericus, operator of an AI-powered platform that connects health care providers with pharmaceutical and life sciences companies, topped the Deloitte list with a 2021-24 growth rate of 29,738 percent.

“Our mission is to set the standard for ethical AI-powered physician connections to pharma resources, accelerating and expanding patient access to needed treatments,” said Dr. Osama Hashmi, a dermatologist who’s co-founder and CEO of Impiricus. “As we continue to innovate quickly, we remain committed to building ethical bridges across this vital ecosystem.”

These are the four fastest-growing tech companies in Houston, according to Deloitte. Photo by Shobeir Ansar/Getty Images

4 fast-growing Houston tech companies secure spots on Deloitte list

big wins

Deloitte’s annual North America Technology Fast 500 list includes four Houston companies this year — all boasting of significant growth.

For Houston, Direct Digital Holdings, Inc. took the highest-ranking spot at No. 101 (up from 108 previous year) with 1,184 percent growth. NatGas Hub LLC (No. 286, 407 percent growth), Liongard (No. 437, 246 percent growth), and Stratus Medical LLC (No. 483, 212 percent growth) also made the list, which is an annual ranking of the fastest-growing North American companies in technology, energy tech sectors, telecommunications, life sciences, media, and fintech.

"Houston continues to demonstrate its prowess in fostering growth and technological advancement and I’m incredibly proud to see some of our local companies making significant strides and earning their well-deserved spots on the 2024 Deloitte Technology Fast 500 list,” Houston managing partner at Deloitte Melinda Yee says in a news release.

Award winners were selected based on fiscal year revenue growth from 2019 to 2022.

The companies achieved revenue growth ranging from 201 percent to 153,625 percent over the three-year time frame with an average growth rate of 1,981 percent and a median growth rate of 460 percent, according to a news release. Texas accounts for 6 percent of the winning companies with 73 percent of the companies from Texas are in the software sector.

“These companies exemplify the entrepreneurial spirit and innovative mindset that define Houston's dynamic business ecosystem,” Yee adds.

In 2023, the Houston representation looked similar. Direct Digital Holdings again topped the Houston rankings at No. 108, with Liongard, NatGasHub.com, and P97 Networks also showing substantial growth. As a state, Texas had 30 companies that made the list of the 541 ranked. In 2022, just one Houston company was recognized, as at No. 372 Onit reported revenue increase of 369 percent.

Biopharmaceutical company TG Therapeutics, Inc. was the No.1 spot in 2024 with a growth rate of 153,625 percent from 2020 to 2023. See the full list here.
Teresa Thomas, newly named vice chair and national sector leader for energy and chemicals at Deloitte, shares her vision in an interview. Photo via LinkedIn

Q&A: Newly named Houston corporate energy, chemicals leader on navigating dynamic energy transition sector

Featured Innovator

Deloitte is undergoing a leadership shift — and this evolution for the nearly 200-year-old company directly affects its Houston office and the energy transition line of business.

Earlier this year, Teresa Thomas was named vice chair and national sector leader for energy and chemicals at Deloitte. Based in Houston, she will also serve as an advisory partner and leader in Deloitte & Touche LLP's Risk & Financial Advisory energy and chemicals practice. She succeeds Amy Chronis, partner at Deloitte LLP, who will continue to serve within the energy and chemicals practice until her retirement in June 2024.

In an interview with EnergyCapital, Thomas shares a bit about what she plans on focusing as she takes on her new role.

EnergyCapital: As you transition into your new role, how would you describe your focus and priorities?

Teresa Thomas: I am excited about what lies ahead for the energy and chemicals sector. The sector is moving into the new year with strong production and a focus on returning value and achieving efficiency. The sector is innovating with new technologies, such as artificial intelligence, including generative AI. that can capture value from data to transform and reinvent business processes and optimize the workforce.

The mission for my leadership role is to grow our practice by serving our clients with world-class solutions; venture into new innovative areas that exceed the changing needs in our sector; and attract, retain, and develop the best talent across Deloitte’s four businesses. I am bullish about the sector's role in leading on the forefront through the energy transition, pioneering innovative technologies and solutions that will help solve some of society’s most pressing issues, and contributing unique and differentiated ideas to help transform the energy and chemicals sector to meet global demands in a sustainable and profitable way.

EC: How is Deloitte navigating the trends and progression of the energy transition? What are clients’ expectations, and how does the company plan to stay a step ahead?

TT: At Deloitte, we proactively navigate the dynamic landscape of the energy transition with a strategic, collaborative, and innovative edge. Our extensive global presence and diverse partnerships, spanning industries, regions, and academic institutions, keep us abreast of emerging trends, regulatory shifts, and technological advancements. Client expectations are evolving towards sustainable practices, and we respond by providing innovative solutions that align with their goals.

Our commitment to staying a step ahead involves continuous investment in talent development and innovative technologies. Central to our strategy is taking ownership of pivotal marketplace issues and adeptly guiding clients through the intricacies of their business challenges. Through harnessing our extensive expertise that cuts across our four business, we aim to create growth opportunities and offer innovative solutions.

EC: Energy companies have been known to more slowly adopt and adapt to new technologies. Is that changing?

TT: We believe the energy and chemicals industries is at the forefront of adopting cutting-edge technologies to bolster operational efficiency, increase productivity, reduce costs, and advance safety and sustainability measures. From bringing new materials to consumers, pioneering offshore operations, transforming shale resources into one of the most competitive resources, to developing new and sustainable molecules, the industry has highlighted its adaptability. The industry continues to be a leader of groundbreaking technologies including the development of biofuels, biomaterials, carbon capture, hydrogen production, and more.

Additionally, energy companies are increasingly leveraging digital technologies, including GenAI to enhance operational efficiency, optimize resource management, and drive innovation across various segments of the industry. From interpreting seismic data and predicting reservoir behavior, to employing carbon analytics and tracking GHG emissions, the industry is transforming its operations and contributing to a more sustainable and efficient energy landscape. While there is much more to be done, we remain confident that the energy industry will continue to help lead the way in innovation.

The oil and gas industry has been increasingly investing in clean energy over recent years, wherein the clean energy investments by the oil and gas industry as a share of their upstream capex quadrupled between 2020 and 2022. Yet, this clean energy investment remains less than 2 percent of the overall clean energy investments made in 2022.

After having outperformed the broader S&P 500 by over 45 percent since 2021, the oil and gas industry faces a threefold mandate:

  1. uphold financial stability,
  2. sustain high dividends, and
  3. augment investments in low-carbon ventures.

However, the central challenge lies in scaling the energy transition while maintaining profitability and shareholder value.

EC: The chemicals sector, in particular, seems ripe for disruption with new and developing alternative materials on the scene. What do you expect to see from this industry in 2024?

TT: There is a chemicals and material transition taking place as companies are pushed to develop more sustainable, lower-carbon materials. And given that 96 percent of all manufactured goods are touched by chemistry, this transition could also be transformational. Over the next year, we expect chemical companies to continue positioning themselves for this high-tech, low-carbon future in three notable ways.

  • First, we expect companies to increase automation and digitalization to improve productivity and accelerate innovation.
  • Second, we see companies continuing to invest in circular solutions, whether it's designing materials for a sustainable end-of-life or using renewable feedstocks.
  • Third, we expect some companies to lean into the new chemicals and materials needed to support the energy transition.

EC: As a Houstonian, what do you see the city’s role amidst the future of energy?

TT: Houston is a top global city, driving transformational change and a convener to an ecosystem of players that are leading the charge in the energy transition through biofuels, biomaterials, and advanced methods for carbon capture and hydrogen production.

Although not a native, I did find the energy and chemicals sector early in my career which brought me to this dynamic city. Houston’s advanced network of partners are working together toward creating innovative solutions that are accelerating the advancement of a lower carbon future.

———

This conversation has been edited for brevity and clarity.

This article originally ran on EnergyCapital.

Amy Chronis is passing over the local leadership reins at Deloitte to Melinda Yee. Photos courtesy

Prominent Houston energy business leader to retire, successor named

in transition

Amy Chronis, a Houston business leader within the energy industry and beyond, is retiring next summer. Her replacement has been named.

Melinda Yee will be the incoming Houston managing partner at Deloitte, replacing Chronis who held the role along with the title vice chair and US energy and chemicals leader. Chronis will retire in June 2024, and Yee's new role is effective January 2.

“Melinda has been an active and valued member of Deloitte’s Houston leadership team. She brings an impressive depth of both industry and marketplace knowledge to her new role as managing partner,” Chronis says in a news release. “I am confident that she will be a great leader for our Houston professionals and in the local community.”

Yee has worked at Deloitte for over 30 years and has served as both Deloitte’s central region risk and advisory leader as well as the Houston risk and advisory leader. She also held the title of energy and chemicals leader within Deloitte’s mergers, acquisitions, and restructuring services practice. She's worked on transactions across the energy value chain, as well as waste management, manufacturing, industrials, services, retail operations and investment management, per the release.

“I am honored to have been asked to serve as the managing partner for Deloitte’s Houston practice,” Yee says in the release. “I look forward to continuing the great work Deloitte has accomplished under Amy’s leadership, delivering results for our clients and making an impact in the Houston community.”

In addition to her role at Deloitte, she serves as a board member for Junior Achievement of Southeast Texas, a member of the Energy Transition Committee for the Greater Houston Partnership, and is Audit Committee chair, director and trustee at the University of Colorado Foundation.

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This article originally ran on EnergyCapital.

This week's roundup of Houston innovators includes Wogbe Ofori of WRX Companies, Amy Chronis of Deloitte, Steve Altemus of Intuitive Machines, and the 2023 Houston Innovation Awards winners. Photos courtesy

3+ Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from hardtech to digital solutions — recently making headlines in Houston innovation.

Wogbe Ofori, founder and chief strategist of WRX Companies

Wogbe Ofori, founder and chief strategist of WRX Companies, joins the Houston Innovators Podcast to discuss hardtech and Houston as an innovative city. Photo via LinkedIn

To Wogbe Ofori, the definition of entrepreneurship is simple: "To be more opportunity centric than risk averse." And Houston, as he says, has be entrepreneurial for a very long time — despite it being considered the specialty of a certain coastal region.

"Silicon Valley has hijacked the concept of innovation and entrepreneurship, and this city has been filled with entrepreneurs long before the concept of 'tech entrepreneurs,'" Ofori says on this week's episode of the Houston Innovators Podcast.

Ofori, the founder and chief strategist of WRX Companies, has developed a keen eye for entrepreneurship and innovation activity in Houston and shares his observations on the show. An adviser to Nauticus Robotics and strategist to Intuitive Machines and Jacobs, he's also served as a mentor across the local innovation community. Read more or listen below.

Amy Chronis, vice chair, US Energy and Chemicals Leader and Houston managing partner at Deloitte

Amy Chonis shares Houston listmakers from Deloitte's annual report. Photo courtesy Deloitte/AlexandersPortraits.com

Deloitte just unveiled the fastest-growing technology companies in North America — and four businesses from Houston made the cut.

For the 29th year, 2023 Technology Fast 500 ranked top tech, media, telecommunications, life sciences, and energy technology companies based on fiscal year revenue growth from 2019 to 2022. While no Houston business was able to break into the top 100, four did make the cut for this year's list.

“It is great to see Houston represented alongside established technology hubs on this year’s Fast 500 list,” Amy Chronis, vice chair, US Energy and Chemicals Leader and Houston managing partner at Deloitte, says in a statement. “Houston is planting seeds for future innovation, and the companies named to this year’s list confirm our city’s value proposition as an innovative community. We look forward to this growth continuing in the future and extend our congratulations to this year’s Houston winners.” Read more.

Steve Altemus, co-founder, president, and CEO of Intuitive Machines

Intuitive Machines has some big news. Photo via intuitivemachines.com

Intuitive Machines has landed a nearly $9.5 million Air Force contract to develop technology for NASA’s Gateway project, the first space station that will orbit the moon. Specifically, the technology will support a high-powered nuclear fission system that will supply electricity for satellites, bypassing the need for power from solar, battery, or fuel-cell sources.

“As space exploration ventures become more ambitious and diverse, the need for efficient and reliable power sources in space is paramount,” Pete McGrath, vice president of business development at Intuitive Machines, says in a news release. “Developing the ability to expand power sources beyond solar, which requires heavy battery storage, could remove the burden of constantly worrying about a spacecraft’s arrays relative to the sun, and potentially deliver long-term stability for satellites that would otherwise lose power over time.”

Second, Intuitive Machines has set January window for the launch of its IM-1 lunar mission in conjunction with private aerospace company SpaceX. The liftoff is targeted for a multiday window that opens January 12, 2024. Read more.

The 2023 Houston Innovation Awards winners

The 2023 Houston Innovation Awards revealed its big winners across 13 categories. Photos courtesy

Who are the top innovators and startups in Houston? We just found out for you. The Houston Innovation Awards honored over 50 finalists categories, naming the 12 winners at the event. The 2023 Trailblazer Award recipient, Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship, was also honored at the event by inaugural winner, Barbara Burger. Read more.

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Houston brain health co. secures $6.5M for rare disease study

neuro funding

Houston-based Goldenrod Therapeutics, part of Fannin Partners' portfolio, has announced the initial close of a $6.5 million series seed preferred stock round.

The round was led by Ataxia Ventures and an affiliate of Fannin, according to a news release.

Goldenrod Therapeutics plans to use the funding to support manufacturing, formulation optimization, IND-enabling studies and a Phase I study of its drug to treat brain inflammation, known as 11h.

The study will consider how 11h, which blocks the enzyme PDE4, could treat Friedreich’s ataxia (FA), a rare genetic disease that affects movement, speech and balance. To date, other PDE4 inhibitors have proven to regulate neuroinflammation and neuronal signaling, but have had adverse gastrointestinal side effects or have not reached enough of the central nervous system, according to Goldenrod.

The company says its 11h is expected to have "broad applicability" with limited emetric side effects.

“Our 11h program is a next-generation, orally bioavailable, brain-penetrant PDE4 inhibitor, where researchers overcame longstanding limitations associated with earlier PDE4 inhibitors," Dr. Dev Chatterjee, CEO of Goldenrod, said in the news release. "We believe this creates the potential for a best-in-class therapy for Friedreich’s Ataxia and a potential foundation for development across multiple neurodegenerative and neuroinflammatory disorders.”

11h was first developed at the University of Nebraska Medical Center (UNeMed). Houston-based Fannin Partners in-licensed the product 2020 and landed SBIR Phase I funding to support its initial development for opioid use disorder soon after.

Goldenrod has also received funding to study 11h's effectiveness for multiple sclerosis, methamphetamine addiction and cocaine addiction.

Goldenrod says it is developing 11h to target a variety of neurological and inflammatory conditions, including Alzheimer's disease, multiple sclerosis, ALS, substance use disorders, Batten disease, pain and traumatic brain injury.

27 Houston companies make Fortune 500 for 2026, led by energy giants

Houston HQs

Editor's note: This article has been updated to correct the number of companies based in the Dallas-Fort Worth area.

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 24 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

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This article first appeared on EnergyCapitalHTX.com.

Elon Musk's SpaceX is about to make its debut on Wall Street

Money Moves

Elon Musk's rocket company SpaceX will make its debut on Wall Street Friday, June 12, and both institutional and retail investors are expected to gobble up the 555.6 million shares going up for sale at $135 apiece. Musk, already the world's richest man, could become its first trillionaire.

SpaceX is likely to become the biggest IPO ever, with proceeds of around $75 billion. SpaceX hopes to become the first company to send people to Mars. In fact, part of Musk’s future compensation depends on SpaceX eventually establishing a colony of at least 1 million people on the red planet.

Why SpaceX is going public now

In a video conference on Musk's social media platform X, he told JPMorgan CEO Jamie Dimon that people have suggested for the last 10 years that he take SpaceX public. He's doing it now because the company plans to put 100,000 next-generation Starlink satellites into orbit. Deploying AI data centers in space is a “massive new growth base and you need capital for that,” he said.

Going public provides access to the capital that SpaceX needs. But it also exposes it to more scrutiny from shareholders and more regulatory oversight. That includes filing quarterly financial reports, which critics say incentivizes short-term thinking over longer-term planning and creates unnecessary costs for a company. Securities regulators are currently soliciting public comment on a proposal to require public companies to file the financial reports only twice every year.

How the IPO impacts the company

Musk will hold the majority of a special class of shares, giving him control over decisions related to company strategy, finances and personnel. On the latter, because of his ownership of most of these Class B shares, the only person who can fire Musk as CEO is Musk.

The company credits Musk with being the “driving force” behind its growth, innovation and success. But what happens if Musk is no longer in the picture? SpaceX warns that the loss of Musk could disrupt its ability to execute its strategy as well as hurt its “reputation and relationships with customers, partners and other stakeholders.”

The company also warns that finding a replacement with the same skills and experience as Musk would be time-consuming, if not nearly impossible. As Wedbush Securities analyst Dan Ives wrote Wednesday, “At the end of the day Musk is SpaceX and SpaceX is Musk.”

What could make or break SpaceX

Currently in the test phase, the gigantic reusable Starship rocket is key to SpaceX realizing Musk's ambitions. Much of the commercial space business hinges on SpaceX developing Starship’s capability to be fully reusable and hearty enough for a quick turnaround between flights. If that doesn't happen, SpaceX warns that putting data centers and satellites in space will take longer and cost more money, meaning it risks customers bailing on the company.

Analysts say that by pioneering reusable rockets, SpaceX has established a clear lead on competitors such as Blue Origin, led by Amazon founder Jeff Bezos. The Starlink satellite business competes with, among others, AST SpaceMobile – which is relying on a SpaceX rocket to send its latest generation of satellites into orbit next week.

The prospectus filed last week says SpaceX’s biggest potential market is the sale of business-oriented artificial intelligence products designed to transform how people get work done. It’s an opportunity SpaceX predicts would be worth $22.7 trillion if it could somehow dominate rivals like Anthropic, OpenAI and Microsoft in a highly competitive industry. But the prospectus shows no clear path to profitability for the xAI business, which merged with SpaceX earlier this year.

Why Wall Street is paying attention

If the SpaceX IPO is as successful, the stock could quickly join the Nasdaq 100, a widely followed index that tracks the 100 largest non-financial companies in the composite. That's important because some popular funds, such as the $460 billion QQQ exchange-traded fund, mimic the index and will automatically buy whatever is listed in the index.

Nasdaq recently changed its rules to allow select companies to enter the Nasdaq 100 after just 15 trading days.

S&P Dow Jones Indices, on the other hand, is sticking to established and more traditional thresholds that will not allow SpaceX or other companies with gargantuan IPOs faster entry into its S&P 500 index. That means even high-profile companies will still need to wait for their stocks to trade a full 12 months before they can enter the index.

Companies want to be in the S&P 500 in particular because it's arguably the most important index on Wall Street, with trillions of dollars either mimicking it exactly or benchmarked against it. Vanguard's VOO fund that tracks the S&P 500 has roughly $950 billion invested in it, for example.

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