Jun 9, 2026 – 4.00pmAs retail investors scramble for a slice of Elon Musk’s blockbuster SpaceX float at the end of the week, one Australian hedge fund manager is planning to cash in as soon as he can.Jack Hu, who runs the $45 million Phoenix Growth Fund, built up a 1.7 per cent position in the rocket, artificial intelligence, and satellite company after taking part in a funding round earlier in the year that was based on a SpaceX valuation of $US1.25 trillion ($1.77 trillion).Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles