Muskonomy(@muskonomy):NEWS: SpaceX IPO set to hand a $20B stake to one hedge fund, the Financial Times reports. But that headline is misleading. D1 Capital Partners, led by Dan Sundheim, is not receiving a $20B stake. Their existing SpaceX position could simply be worth $20B once the company lists at its $1.75T target valuation on June 12. They already own the shares. The IPO just makes them liquid. This is what happens when early investors hold through a company going from a $350B private valuation to a potential $1.75T public one. The wealth was already there. The IPO just puts a price tag on it.

11hours ago

NEWS: SpaceX IPO set to hand a $20B stake to one hedge fund, the Financial Times reports. But that headline is misleading. D1 Capital Partners, led by Dan Sundheim, is not receiving a $20B stake. Their existing SpaceX position could simply be worth $20B once the company lists at its $1.75T target valuation on June 12. They already own the shares. The IPO just makes them liquid. This is what happens when early investors hold through a company going from a $350B private valuation to a potential $1.75T public one. The wealth was already there. The IPO just puts a price tag on it.