What Happened
Private Credit Firm's Investment In Elon Musk's Space Venture Pays Off
Blue Owl, a private credit firm, has reported significant gains from its investment in SpaceX, with returns of 10 times its initial investment. The firm has sold half of its position at a $1.25 trillion valuation and continues to hold the remainder. This development comes as SpaceX is headed for a record IPO later this year. The news was announced during Blue Owl’s first-quarter earnings call, which was reported by CNBC.