SpaceX IPO to launch this group of teachers into dream retirement — massive $11B jackpot possible.
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A seven-year-old bet on Elon Musk may be about to blast off in spectacular fashion. Back in 2019 (1), a Canadian-based teachers’ pension fund invested roughly $220 million into SpaceX when the rocket company was valued at around $35 billion. Now, with SpaceX reportedly targeting a $1.75 trillion valuation in its long-awaited IPO, that stake could be worth as much as $11.6 billion (2).
Top Picks – – – Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s how to fix it ASAP That’s a possible return of more than 5,100%. The investor wasn’t a Silicon Valley venture capital firm or a billionaire hedge fund manager, but an Ontario Teachers’ Pension Plan (OTPP) (3), a managed retirement savings plan for 346,000 teachers. The potential windfall highlights just how much wealth can be created before a company ever reaches the public market.