How Do So Many People Already Own Elon Musk’s SpaceX?
Many people already own SpaceX stock through special purpose vehicles before its potential initial public offering, which could be the largest ever. Over 170 investment vehicles with 'SpaceX' or 'Space Exploration' in their names have been set up in the past six years.
SpaceX is on the verge of a potentially record-breaking initial public offering (IPO), but many individuals already own its stock through special purpose vehicles (S.P.V.s). These entities allow groups of investors to pool money for a single investment, bypassing restrictions on investing in private companies. Over 170 S.P.V.s with 'SpaceX' or 'Space Exploration' in their names have been established, mostly in the past six years. Investors include Anthony Scaramucci, rapper 2 Chainz, and former education secretary Betsy DeVos. Demand for SpaceX stock has been 'virtually insatiable,' according to Sim Desai, founder of Hiive, a private stock sales website. The proliferation of S.P.V.s highlights a thriving shadow market for private company stock and signals strong interest in SpaceX shares. This trend may also apply to other high-profile private companies like OpenAI and Anthropic.
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