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Investing in FTX crashes to zero; Ontario Teachers’ Pension Plan bets on SpaceX, and after the IPO the value of its holdings could soar to $11.6 billion

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ME News Report, June 9 (UTC+8), the Ontario Teachers' Pension Plan in Canada is expected to receive a substantial return 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 a potential unrealized gain of over $11 billion. As of 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 an IPO does not necessarily mean an 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. Notably, the fund had invested about $95 million in FTX in 2022 and wrote off the entire investment to zero after FTX's bankruptcy. However, benefiting from the strong performance of projects like SpaceX, its venture capital portfolio is still projected to grow by 30% 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. (Source: ChainCatcher)
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