SpaceX Stock: Rich Indian Family Makes 100x Returns on Investment
A rich New Delhi-based Indian family office made 100x returns on its SpaceX investments right after the launch of the IPO. The family invested in the company in 2017 through the employee stock options (ESOP) in the secondary market. The investment was initiated through their international investment arm, which is headquartered in Dubai. The launch of SpaceX stock (NASDAQ: SPCX) made their investment rise 100x, with the company’s valuation rising to $1.54 trillion.Fortune was the first to report on the earnings that saw the Indian family office make 100x gains on the SpaceX stock launch on Friday. “We had invested in a handful of US tech secondaries by purchasing employee stock options (ESOP) in the secondary market through our international investment arm in Dubai. We invested a modest sum, not multi-millions,” the founder of the family office said on the condition of anonymity.Also Read: SpaceX Market Cap Hits $2.9 Trillion, Overtakes MicrosoftSpaceX Stock: Early Investors of the Company Reap Most of the BenefitsSource: CNBCEven if the “modest sum” was $500,000, and 100x from here is a straight $50 million in profits. This is only an assumption to shed light on how high prices can reach when earning 100x returns. The Indian family office revealed that when they made the bet in 2017, they did not think its valuation could reach the trillions. SpaceX stock’s market cap was at par with Apple, Microsoft, and Amazon’s market cap during its launch.“We made SpaceX-like technology bets with a view on the future and their market leadership position. Of course, we had not factored in the ‘Elon Musk effect’ and never even looked at the current valuation as a possible realistic scenario,” said the founder. The wealthy Indian family office also invests in real estate for long-term growth opportunities. SpaceX stock is only a small part of their holdings, and their investment vehicle is much larger.
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