Investment in FTX Goes to Zero, Ontario Teachers' Pension Plan Hits Jackpot with SpaceX, Post-IPO Holdings Could Soar to $11.6 Billion

BlockBeats News, June 8th, the Ontario Teachers' Pension Plan in Canada is expected to receive a huge return from the SpaceX IPO. The fund invested about $220 million in SpaceX in 2019 when the company was valued at around $33 billion to $36 billion.

If SpaceX goes public as planned at $135 per share, with a valuation of about $1.75 trillion, the Ontario Teachers' Pension Plan's stake will rise to approximately $11.6 billion, with a potential unrealized gain of over $11 billion.

By the end of 2025, the Ontario Teachers' Pension Plan, with assets under management of around $279.4 billion, covers 346,000 active and retired teachers. The fund's Chief Investment Officer, Gillian Brown, previously stated that the IPO does not necessarily signify an exit point. In the future, they may continue to hold shares to observe whether SpaceX, post acquiring xAI, can embark on a new growth cycle.

It is worth noting that the fund had previously invested around $95 million in FTX in 2022 and fully impaired this investment after FTX went bankrupt. However, benefiting from strong performances of projects like SpaceX, their venture capital portfolio still achieved a 30% growth in 2025.

Currently, some institutions hold a cautious view on SpaceX's valuation. Morningstar believes its fair valuation is less than half of the IPO target. Based on a $1.75 trillion valuation, Elon Musk, holding about 41% of the shares, is expected to further ascend in wealth and may become the world's first trillionaire.