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Musk's covert backer owns $40B in SpaceX
Vy Capital, a small emerging venture capital firm, currently holds approximately a $40 billion stake in SpaceX, making it one of the company's largest shareholders. Its investments in the company began in 2016 when SpaceX's market value was around $15 billion. Today, Vy's stake amounts to about 3.4%, surpassing investments made by major Silicon Valley investors. Vy is one of Elon Musk's strongest advocates and maintains a close relationship with him, having invested in several of his ventures such as The Boring Company and Neuralink. Vy also participated with $700 million in Musk's acquisition of Twitter in 2022. Following its initial public offering, SpaceX's valuation rose to about $1.75 trillion. Investors expect the company's market value could exceed $10 trillion in the coming years, with an average internal rate of return of 41% since its founding. Vy also holds significant stakes in other companies and is developing a long-term investment partnership with Musk and his companies, focusing on investing in high-growth firms.
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