What Happened
Darsana Capital Partners Holds Significant Stake in Elon Musk's Rocket Maker
A little-known hedge fund, Darsana Capital Partners, stands to make over $10 billion from SpaceX’s planned initial public offering, according to people familiar with the matter. The fund first invested in SpaceX in 2019, when the company was valued at around $30 billion, and has since increased its stake. With nearly 60% of its managed assets in SpaceX shares, Darsana’s paper gains could top $10 billion if the company goes public at a valuation of $1.5 trillion or more. This development was reported by The Wall Street Journal.