Invest already in SpaceX

The Bloomberg news agency has learned from insiders that SpaceX wants to raise 30 billion dollars in an IPO next year. The company is to be valued at 1.5 trillion dollars and would then be one of the world's most valuable listed companies.

Is there a chance to approach SpaceX as a private investor? Yes, there is. WirtschaftsWoche reports on the ways - or rather detours - in which private investors can already get involved.

A number of British investment trusts have a large SpaceX portfolio. Investment trusts are closed-end funds whose shares are traded like shares on the stock exchange. This is how you can get a little closer to a SpaceX investment.

One option is offered by asset manager Baillie Gifford from Scotland. The fund company is known for long-term investments in high-growth companies and was one of the first major investors in Tesla $TSLA (+3,19 %). In 2013, the Scots joined Elon Musk's company and have since earned hundreds of millions of dollars for their investors.

Now it looks like the Scots want to repeat their success with one of Elon Musk's companies. Baillie Gifford was able to secure SpaceX shares for some of her investment trusts. This is probably also due to the fact that the asset manager is said to still have very good relations with Elon Musk.

One of these funds is the long-established Scottish Mortgage Investment Trust $SMT (-1,91 %) The current factsheet is dated November 30, 2025, according to which the fund holds a total of 8.2 percent of its assets in SpaceX. This makes the space company the largest position. It also owns TSMC, Mercado Libre and Amazon are among the fund's top positions.

With Edinburgh Worldwide $EWI (+1,63 %) and the Schiehallion Fund $MNTN (+1,79 %)

there are other trusts that are also heavily invested. The remarkable thing is the discount to the intrinsic value. The three trusts are currently trading at a discount of between three and 26 percent. The funds are therefore noticeably cheaper on the stock market than their actual assets are worth.

Source text (excerpt) & picture: "Welt", 11.12.25

Klein-Anleger1@Klein-Anleger1

Here is THE alternative to SpaceX -> $RKLB 😅🤫

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Krush82@Krush82

where did the doubling of the valuation suddenly come from? at the beginning of the week I was still talking about just under 800 billion and that the secondaries market was taking into account a current valuation of 400 - 450 billion

Patrick Schäfer@Hotte1909

@Krush82 My estimate is somewhere between 400 and 500 billion. I like to use SpaceX as a benchmark for Rocket Lab, which should theoretically be valued at around half that amount in a few years. So somehow towards 200 billion. But 1.5 billion is a bit high for me.

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@Hotte1909 SpaceX's forecast revenue is expected to be around 15-16 billion in 2025 and 22-24 billion in 2026. That would be a P/S ratio of 100, i.e. 100 times the revenue or "only" 60-70 times the revenue in 2026. Firstly, you can always doubt what Elon puts out as forecasts and secondly, a P/S ratio somewhere between 60 and 100 would still be far too high, as the relative revenue growth is too low in my opinion. But I'm just a simple dude :-)

@Krush82 11bn of this is already attributable to Starlink. That leaves "only 3-4 billion" for the rest

@Hotte1909 then the rest should probably grow faster than Starlink

SanSebastian@WarrenamBuffet

or even $JEDI where spaceX will also be included when they go public in 2026. $RKLB is also prominently represented there.

Aktienfox@Aktienfox

Or in $DXYZ but, volume/costs and arbitrariness are also included

Sithz@Sithz

but it is not possible to buy the share individually beforehand?

@Sithz surely, at the IPO then

Invest (already) in SpaceX ?