Hedge fund D1 Capital Partners is reportedly poised to reap significant benefits from the upcoming public listing of Elon Musk‘s SpaceX.
D1 Capital’s stake in SpaceX could be worth approximately $20 billion if the rocket manufacturer achieves its anticipated $1.75 trillion valuation, reported the Financial Times. The hedge fund, managed by Dan Sundheim, was one of the early investors in SpaceX, taking a position in 2020 when the company was valued at around $36 billion.
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Despite receiving substantial interest, Sundheim has previously stated his firm’s intention to retain its holdings in SpaceX. The investment in SpaceX constitutes a significant portion of D1 Capital’s total assets and has been a major contributor to the fund’s returns.
Another hedge fund, Darsana Capital Partners, is also set to profit handsomely from SpaceX’s public listing. The firm, founded by Anand Desai, first invested in SpaceX in 2019. If SpaceX reaches its projected valuation, Darsana’s stake could be worth around $15 billion, as per the FT report.
