Ontario Teachers' Pension Plan may receive huge returns from SpaceX IPO

The Ontario Teachers' Pension Plan in Canada invested approximately $220 million in SpaceX in 2019, with the company valued at around $33 billion to $36 billion at the time. If SpaceX goes public at a valuation of $135 per share, approximately $1.75 trillion, its shareholding value will rise to approximately $11.6 billion, with potential book profits exceeding $11 billion. As of the end of 2025, the fund will manage assets of approximately $279.4 billion, covering 346000 in-service and retired teachers. Gillian Brown, Chief Investment Officer, stated that an IPO may not necessarily be the time to exit, and that holding shares may continue in the future. The fund invested approximately $950 million in FTX in 2022, but due to FTX bankruptcy, the write down was reduced to zero. However, driven by projects such as SpaceX, its venture capital portfolio is expected to grow by 30% by 2025. Some institutions are cautious about SpaceX's valuation, and Morningstar believes that its reasonable valuation is less than half of its IPO target. Based on a valuation of $1.75 trillion, Musk, who holds approximately 41% of the shares, may see his net worth further increase.