Investors Report SpaceX Stock Disappearing From SPV Accounts After $17.7 Trillion IPO, Claims of Fraud Against Late Stage Management

According to The Wall Street Journal, multiple investors reported on August 6 that their SpaceX shares held through special purpose vehicles (SPVs) managed by Late Stage Management disappeared following SpaceX's June 2026 IPO with a $17.7 trillion valuation. Investors were unable to access their accounts and were told their shares had been sold in 2024, causing them to miss substantial returns.

Three Late Stage Management executives admitted to defrauding investors in March 2026 by concealing markups and fees. The SEC has received investor complaints, and legal action is underway. Similar issues have surfaced with Anthropic-related SPVs ahead of the AI company's anticipated fall 2026 IPO.