FTX investment goes to zero, Ontario Teachers’ Pension Plan hits the jackpot with SpaceX; holding value may soar to $11.6 billions after IPO

BlockBeats reported that on June 8, the Ontario Teachers’ Pension Plan in Canada is expected to gain huge returns from the SpaceX IPO. The fund invested about $220 million in SpaceX in 2019, when the company was valued at approximately $33 billion to $36 billion.

If SpaceX goes public as planned at $135 per share, with a valuation of roughly $1.75 trillion, the shares held by the Ontario Teachers’ Pension Plan would be worth around $11.6 billion, with potential paper gains exceeding $11 billion.

By the end of 2025, the Ontario Teachers’ Pension Plan is expected to manage assets of about $279.4 billion, covering 346,000 active and retired teachers. The fund’s Chief Investment Officer, Gillian Brown, previously stated that an IPO does not necessarily mean an exit; they may continue to hold shares in the future to observe whether SpaceX can start a new growth cycle after acquiring xAI.

It is worth noting that the fund invested about $95 million in FTX in 2022, and wrote off the entire investment after FTX’s bankruptcy. However, thanks to the strong performance of projects such as SpaceX, the venture capital portfolio still achieved 30% growth in 2025.

Currently, some institutions hold a cautious view on SpaceX’s valuation. Morningstar believes its fair value is less than half of the IPO target. Based on a $1.75 trillion valuation, Elon Musk, who holds about 41% of the company, could see his wealth climb even higher, potentially becoming the world’s first trillionaire.