How Can You Invest In SpaceX?
September 14, 2022
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1:21Now PlayingHow Can You Invest In SpaceX?
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as posted by the channelHow does anyone who’s not a friend of Elon Musk invest in SpaceX? Bloomberg's Scarlet Fu explains.
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From Jay-Z to former senior equities traders, investors are clamoring for a piece of the most valuable US startup.
Elon Musk is counting on investors like Spyridon Mentzas to cement his position as the world’s richest person.
Mentzas, a former co-head of equities at Mizuho Securities, set out to start his own firm with the sole purpose of buying shares of SpaceX, Musk’s closely held rocket company. It took his Hijojo Partners three years, but it now owns a stake in the business, which was valued at about $125 billion in its latest funding round.
He’s hardly alone in vying for a piece of what’s now the most valuable US startup. Edoardo Zarghetta, fund manager of Miami-based PreIPO Club, started buying SpaceX shares two years ago in the secondary market, where they still trade at premiums of more than 10%. Investors from Norway to Hong Kong say they’re fans of Musk and are in it for the long haul, though some acknowledge they’re dealing with murky financial information around the Hawthorne, California-based company that quickly burns through cash.
“For me, it’s just being able to be a part of it,” Olav Trent, who heads Rex Fund, a hedge fund for wealthy Norwegian families, said in an interview from Antwerp. “We would be the only Norwegian company involved in the space program.”
SpaceX has always been a vital part of Musk’s fortune. As recently as year-end 2019, his SpaceX stake, worth $14.6 billion at the time, exceeded the value of his Tesla Inc. shares.
#SpaceX #ElonMusk #Explained
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