Early investors in SpaceX stand to gain billions as the company targets a $1.8 trillion valuation in its upcoming public offering.
SpaceX is poised to debut on public markets with a targeted valuation of $1.8 trillion, delivering massive returns to early investors. The rocket maker, founded by Elon Musk, has remained private for nearly two decades, allowing select venture capital firms, hedge funds, and mutual funds to accumulate stakes before its success was widely recognized.
Investors such as Ron Baron, Cathie Wood’s ARK Invest, and Fidelity Investments are among the biggest beneficiaries. Baron’s firm first invested in 2017 when SpaceX was valued at under $22 billion and has since participated in 27 funding rounds. By March, SpaceX accounted for 33% of the $10.4 billion Baron Partners Fund and 23% of the Baron Asset Fund, with the firm’s $2 billion investment now worth roughly $12 billion.
Other major stakeholders include Founders Fund, Sequoia Capital, Andreessen Horowitz, D1 Capital Partners, and Coatue Management. Pension funds and endowments are also set to benefit from the windfall, marking one of the largest paper gains in venture capital history.