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NEWS: CZ's $500M Twitter bet in 2022 has become indirect SpaceX equity ahead of the June 12 IPO. When Elon Musk acquired Twitter for $44B in 2022, CZ put in $500M as an equity investor, taking roughly a 1.1% stake. That stake has since traveled through two mergers. X merged into xAI in March 2025. xAI then merged into SpaceX in February 2026, valuing the combined entity at $1.25 trillion. Each merger diluted CZ's position. His original 1.1% of Twitter is now roughly 0.066% of the combined SpaceX entity. If SpaceX hits its $1.75T IPO target on June 12, that slice is worth approximately $1.16 billion. A 2.3x return on a $500M bet placed three years ago on a social media platform.