If SpaceX goes public with a valuation of $1.75 trillion, several hedge funds will reap huge returns.

BlockBeats News, May 19th. According to the Financial Times, hedge fund D1 Capital Partners is expected to be one of the biggest winners next month when SpaceX goes public. Several Wall Street firms are poised to reap enormous rewards. Insider sources revealed that if SpaceX goes public at an expected valuation of $1.75 trillion, Dan Sundheim's D1 Capital Partners will see its stake valued at around $20 billion. D1 is among the few hedge funds that made early investments in SpaceX when the company's IPO seemed distant. Sundheim's fund first invested in SpaceX in 2020 when the company was valued at around $36 billion. Its stake in the company is a significant portion of its total assets and contributes greatly to its returns. The fund currently manages around $35 billion. Sundheim told investors last year that he has no intention of selling any holdings, "despite receiving numerous substantial inquiries."

The extremely low-profile hedge fund Darsana Capital Partners is also set to gain billions of dollars in returns. Founded by Anand Desai in 2014, the fund first invested in SpaceX in 2019 when the company was valued at around $33 billion. The company has participated in several rounds of financing, including purchasing shares through tender offers from employees looking to cash out. Its holdings expanded subsequently due to early investments in X - Musk merged the social media platform with his AI lab xAI, which later merged with SpaceX. Insider sources indicate that if SpaceX reaches the expected valuation of $1.75 trillion, this New York hedge fund is projected to hold around $15 billion worth of SpaceX shares. This figure does not yet include its indirect exposure to SpaceX through its investment in EchoStar - previously, EchoStar engaged in a spectrum license deal with SpaceX, with payment in the form of stakes in the rocket company.

SpaceX has seen accelerated growth in the past five years, driven by the success of its satellite internet service Starlink - this business contributed over half of the group's $18.7 billion in revenue last year, along with its rocket launch business. Musk also boosted SpaceX's overall valuation from under $400 billion less than a year ago to the current $1.25 trillion through a series of transactions with X and xAI. In recent weeks, Musk has also secured the right to acquire the programming startup Cursor for $60 billion and struck a deal with the AI group Anthropic for excess compute power leasing. According to an investor in the company, this arrangement could bring in approximately $5 billion in annual revenue growth.