Founders Fund's investment in SpaceX is now valued at more than $50 billion.

      Founders Fund’s investment in SpaceX has become one of the most successful venture trades. Peter Thiel’s firm invested around $600 million in the rocket company, and at the IPO price, that stake is valued at over $50 billion. This translates to an approximately 80-fold return, a scale rarely seen in venture investments.

      According to Bloomberg, Founders Fund owns about three percent of SpaceX, which priced its shares at $135 during its listing, resulting in a valuation of nearly $1.8 trillion and making Elon Musk the world’s first trillionaire. That three percent equates to roughly $53 billion.

      This substantial payout has taken nearly two decades to materialize. Founders Fund was among SpaceX’s earliest external investors, making its initial investment around 2008, the year the company nearly faced bankruptcy before successfully launching its Falcon 1 rocket.

      The conviction in SpaceX remained steadfast through multiple funding rounds, and it has now become the largest holding for Founders Fund. When the firm raised an additional $6 billion this year, the value of the SpaceX stake significantly outstripped its other investments.

      Founders Fund is not the only major player in this success. Andreessen Horowitz holds a stake worth over $10 billion, marking its largest return to date. Several early investors will reap tens of billions from this IPO, which will also create around 4,000 millionaires among employees.

      However, there is a caveat: this $50 billion figure represents a mark-to-IPO valuation, not actual cash on hand. Lock-up agreements generally prevent significant stakeholders from selling their shares immediately upon debut.

      While the gain is substantial, it remains unrealized. Founders Fund cannot sell its three percent stake on the first day without affecting the stock price. Additionally, the value and specifics of the holding are based on Bloomberg’s reports, which the firm has yet to publicly confirm.

      The valuation is also under scrutiny. A Danish pension fund has criticized the IPO, labeling it overvalued and lacking in governance, while SpaceX’s filing grants Musk and insiders considerable voting power.

      Despite these concerns, the calculations for Founders Fund remain intact. Thiel’s firm invested early, maintained its investment, and is now positioned for one of the most significant venture returns recorded. The tougher question lies with those purchasing shares at $135, as they are investing in a future that early backers have already begun to profit from.

      Published June 12, 2026 - 11:44 am UTC

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