Investment firms build billions in exposure to SpaceX ahead of landmark IPO

SpaceX went public in June 2026 at $135 per share, landing a valuation of roughly $1.8 trillion. That number makes it one of the most valuable companies ever to debut on a stock exchange. But the real story isn’t the IPO itself. It’s the years of quiet positioning by investment firms that built billions in exposure long before ticker SPCX ever appeared on Nasdaq. The IPO raised approximately $75 billion, a staggering sum that dwarfs most public offerings in history. The early believers and their returns Baron Capital started buying SpaceX shares in 2017, eventually investing around $2 billion into the company. By mid-2026, that stake had ballooned to an estimated $12 billion. As of March 31, 2026, SpaceX comprised 33% of Baron Partners Fund, a $10.4 billion vehicle. Then there’s Founders Fund, the venture capital firm co-founded by Peter Thiel. They were even earlier, investing in SpaceX back in 2008. Their roughly 3% stake was valued at over $50 billion based on the IPO pricing. Valor Equity Partners held a stake valued between $75 billion and $80 billion at the time of the public listing. How Wall Street’s biggest names got their slice Fidelity Investments allocated SpaceX shares...