When SpaceX struggled to stay alive in 2008 after three failed rocket launches, few investors wanted to touch the company.
Nearly two decades later, those who took the risk are reaping some of the biggest rewards in venture capital history as SpaceX debuts on the stock market with a valuation approaching $2 trillion.
The public listing has transformed early believers into some of the biggest winners in modern technology investing, while also creating thousands of new millionaires among employees.
At the centre of the success story is Elon Musk, whose company has grown from a cash-strapped startup into the world’s dominant commercial space business. Following the listing, Musk’s stake has reportedly pushed his net worth beyond the trillion-dollar mark, making him the first person to reach that milestone.
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