FTX investment goes to zero; Ontario Teachers’ Pension Plan bet on SpaceX, with the post-IPO value of its holdings potentially soaring to $11.6 billion

BlockBeats News, June 8 — The Ontario Teachers' Pension Plan in Canada is expected to reap huge returns from the SpaceX IPO. The fund invested approximately $220 million in SpaceX in 2019, when the company's valuation was about $33 billion to $36 billion.

If SpaceX goes public as planned at $135 per share, with an estimated valuation of around $1.75 trillion, the shares held by the Ontario Teachers' Pension Plan would be worth about $11.6 billion, with potential unrealized gains exceeding $11 billion.

By the end of 2025, the Ontario Teachers' Pension Plan manages assets totaling approximately $279.4 billion, covering 346k active and retired teachers. The fund's Chief Investment Officer, Gillian Brown, previously stated that the IPO does not necessarily mark the exit point; they may continue to hold the shares in the future to observe whether SpaceX's acquisition of xAI can trigger a new growth cycle.

It is worth noting that the fund had invested about $95 million in FTX in 2022 and wrote off the entire investment after FTX's bankruptcy. However, benefiting from the strong performance of projects like SpaceX, its venture capital portfolio still achieved a 30% growth by 2025.

Currently, some institutions are cautious about SpaceX's valuation. Morningstar believes that its reasonable valuation is less than half of the IPO target. Based on a $1.75 trillion valuation, Elon Musk, who holds about 41% of the shares, could see his net worth further increase and potentially become the world's first trillionaire.